ARCs halt recovery of retail bad loans after RBI directive2 min read . Updated: 26 Nov 2022, 06:58 AM IST
- ARCs are awaiting clarity on the new guidelines issued by the Reserve Bank last month
- In October, the central bank issued revised guidelines mandating ARCs to carry out a background check of borrowers
New Delhi: Asset reconstruction companies, or ARCs, have stalled the recovery process of retail non-performing loan accounts following a new Reserve Bank of India (RBI) directive on conducting a background check of defaulting borrowers by independent experts, industry insiders said.
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