RBI allows lenders to sell fraudulent loans to ARC
NS reserve Bank of India l. is allowedEnders/Banks for transfer of loan Which are classified as frauds by these lenders Asset Reconstruction Companies (ARCs). Stressed loans including fraudulent loans that are in default for a greater 60 days or are allowed to be transferred to ARC classified as NPA. This comes in the wake of banks reporting frauds overall Rs 3.95 lakh crore Between FY19 and FY21.
- Under the new guidelines, loans can be transferred only after six months for those with a minimum holding period (MHP) of three months in case of loans with tenors up to two years and above. 2 years.
- In case of loans where the security does not exist or cannot be registered, the MHP will be calculated from the date of first repayment of the loan.
Here are the figures for loans declared as fraudulent by banks for different financial years:
- For 2020-21 (FY21): loan value Rupee. 1.37 trillion was declared as fraud
- For 2019-20 (FY 20): loan value 1.81 trillion rupees was declared as fraud
- For 2018-19 (FY19): loan value 64,539 crores was declared as fraud
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