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Instead of recovering dues, why do banks sell their non-performing assets (NPAs) to an asset restructuring company (ARC)? Also, why would someone like ARC buy the NPA? - Hire CA : Knowledgebase
Instead of recovering dues, why do banks sell their non-performing assets (NPAs) to an asset restructuring company (ARC)? Also, why would someone like ARC buy the NPA?
Instead of recovering dues, why do banks sell their non-performing assets (NPAs) to an asset restructuring company (ARC)? Also, why would someone like ARC buy the NPA?
the traditional banks in india are unable to manage or recover its non performing assets due change in the automobiles technology. on default the residual value of collateral assets less than the O/s Loan amount. Banks have been facing difficulties in selling or recovering the collateral / assets from defaulter as recovery is not the primary business of a bank. This is the strong reason ARC plays vital role in selling and minimizing the non performing assets.
if you start ARC business you will able to generate good amount of profit.
Every ARC seeking the Bank's registration under Section 3 of the Act, shall have a minimum Owned Fund of Rs.2 crore.
(Provided that every ARCs seeking the Bank's registration under Section 3, or carrying on business on commencement of the Securitisation Companies and Reconstruction Companies (Reserve Bank) (Amendment) Guidelines and Directions, 2004, shall have a minimum Owned Fund not less than fifteen percent of the total financial assets acquired or to be acquired by the Securitisation Company or Reconstruction Company (irrespective of whether the assets are transferred to a trust set up for the purpose of Securitisation or held in its own books) on an aggregate basis, or Rs.100 crore, whichever is less; )
