Reserve Bank of India Raises Shareholding Limit of ARCs
Posted on:24 Nov 2017 13:09:17
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24 November 2017 Current Affairs: The Reserve bank of India (RBI) allowed Asset Reconstruction Companies (ARCs) to hold more than 26% post-conversion of debt into equity in companies undergoing restructuring.
In a notification, the central bank notified the extent of shareholding post-conversion will be in accordance with permissible foreign direct investment (FDI) limit for that specific sector.
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