The Reserve Bank of India (RBI) on January 20, 2025, issued the notification regarding the Guidelines on Settlement of Dues of borrowers by ARCs.
The following has been stated namely: -
• Reference is drawn to paragraph 15 of the Master Direction – Reserve Bank of India (Asset Reconstruction Companies) Directions, 2024 dated April 24, 2024 which prescribes guidelines on settlement of dues payable by the borrowers of the ARCs.
• Paragraph 15 of the Master Direction is amended to state “Settlement of dues payable by the borrower”
The revised provisions shall come into effect from January 20, 2025.
[Notification No. RBI/2024-25/106]
