Final guidelines for ARC sponsors soon: RBI official
Manoranjan Mishra, a chief general manager at the department of non-banking regulation at RBI, said there is a growing interest in the asset reconstruction companies (ARCs) and the central bank has received several applications for setting up new ARCs.
Those who give applications to set up ARCs have to justify how they consider themselves fit and proper to be ARC sponsors to get a licence. Image source: Reuters