RBI sets 7-year deadline for banks to offload repossessed assets
The Reserve Bank of India has introduced fresh regulations regarding the handling and liquidation of real estate assets taken over by lenders following loan defaults. Under these new rules, banks and financial firms must sell off these properties according to their internal policies, capped at a seven-year limit. To guarantee transparent pricing, the RBI has advised institutions to prioritize public auctions when selling these assets.
by shortkt.com✓