Asset reconstruction at crossroads

It’s been a long time coming, but the Reserve Bank of India’s (RBI’s) latest pronouncements in the Framework for Revitalizing Distressed Assets in the Economy, issued in January, is finally beginning to set the asset reconstruction companies (ARCs) conundrum in perspective. The central bank has moved decisively on mechanisms for early detection and redressal of stress in the financial system, but ARCs have been neglected for a long time.

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