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ARC
What does ARC stand for in the context of Indian banking laws?
ARC stands for Asset Reconstruction Company, which is an entity established under the SARFAESI Act, 2002 to acquire Non-Performing Assets (NPAs) from banks and financial institutions and reconstruct or recover them.
Which year was the SARFAESI Act enacted that provides the legal framework for ARCs?
The SARFAESI Act was enacted in 2002.
Under which Act are Asset Reconstruction Companies (ARCs) regulated in India?
ARCs are regulated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, and are registered with and supervised by the Reserve Bank of India.
What is the full form of SARFAESI as it pertains to ARC regulation?
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest.
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