Reserve Bank of India Raises Shareholding Limit of ARCs

Posted on:24 Nov 2017 13:09:17
Reserve Bank of India Raises Shareholding Limit of ARCs
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.
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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