{"id":220063,"date":"2025-01-20T21:49:05","date_gmt":"2025-01-20T21:49:05","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/20\/rbi-eases-norms-for-arcs-to-settle-with-defaulters-the-times-of-india\/"},"modified":"2025-01-20T21:49:05","modified_gmt":"2025-01-20T21:49:05","slug":"rbi-eases-norms-for-arcs-to-settle-with-defaulters-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/20\/rbi-eases-norms-for-arcs-to-settle-with-defaulters-the-times-of-india\/","title":{"rendered":"RBI eases norms for ARCs to settle with defaulters &#8211; The Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i3.wp.com\/static.toiimg.com\/thumb\/msid-117407637,imgsize-1867246,width-400,resizemode-4\/117407637.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"RBI eases norms for ARCs to settle with defaulters &#8211; The Times of India\" title=\"RBI eases norms for ARCs to settle with defaulters &#8211; The Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>MUMBAI: RBI has allowed <!-- -->asset reconstruction companies<!-- --> to settle dues with defaulters after examining other recovery options and based on the realisable value of the borrower\u2019s assets. Settlement of accounts pertaining to a borrower having aggregate value of Rs 1 crore or below in terms of principal outstanding, can be done on the basis of a board approved policy. For larger loans, the ARC needs to have a <!-- -->board-level panel<!-- --> taking the decision.<br \/>The new rules make it easier for ARCs to <!-- -->recover bad debts<!-- --> as earlier they had to exhaust other options and get board approval even for smaller loans. \u201cAsset reconstruction companies have been asking for this since the new norms were introduced in Oct 2022,\u201d said Hari Hara Mishra, CEO, Association of Asset Reconstruction Companies.<br \/>He said that in the case of smaller personal loans, ARCs can make the process non-discretionary by prescribing the parameters which will vastly improve recoveries and hasten settlement in <!-- -->personal loans defaults<!-- -->. In the case of larger loans, ARCs will not longer have to go to their full board and will have to instead refer to a board-level panel which will speed the process.<br \/>Special rules apply to <!-- -->fraudsters and wilful defaulters<!-- -->, ensuring criminal proceedings remain unaffected. All settlements must comply with legal requirements, including court approvals when needed.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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Settlement of accounts pertaining to a borrower having aggregate value of Rs 1 crore or below in terms of principal outstanding, can be done on the basis of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":220064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-117407637,imgsize-1867246,width-400,resizemode-4\/117407637.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[41705,44929,173172,289,173171,36997,5601,173170,273,173169,17124,173168,2126,173167,173166,173165,3291,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/220063"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=220063"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/220063\/revisions"}],"predecessor-version":[{"id":220065,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/220063\/revisions\/220065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/220064"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=220063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=220063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=220063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}