With Central Vigilance Commission (CVC) raising doubts over the sale of stressed assets by banks to asset reconstruction companies (ARCs), the process has started on a low pitch this financial year.
Recently, CVC suggested that banks have a monitoring mechanism for bad loan sales to ARCs, with the cash flow statement from stressed assets shared with banks, according to top bankers in public sector banks (PSBs). CVC is of the view that in many cases the management fee and other expenses charged by the ARCs to banks are not fair. “Now, certain additional caveats that have been brought ...
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