eco Flashcards
The Reserve Bank of India (RBI) has recently issued updated guidelines specifically
targeting
Asset Reconstruction Companies (ARCs)
The new guidelines mark a substantial increase in the minimum capital required for
ARCs from
m Rs 100 crore to Rs 300 crore.
ARCs are crucial entities empowered by the SARFAESI Act to manage and
resolve distressed assets. They help in the recovery process by purchasing non-performing assets from
financial institutions under which act
Role under SARFAESI Act, 2002
ARCs charge a management fee,
typically ranging
1.5% to 2% of the asset value annually
Reserve Bank of India (RBI)
Established Date
April 1, 1935.
Permanent Location
mumbai
Appointment of rbi
Directors
appointed by the Government of
India as per the Reserve Bank of
India Act
Term
Directors serve a term of
four years
Current Governor of rbi
: Shri Shaktikanta Das
How many members are there in the Monetary Policy
Committee (MPC) established under Section 45ZB of the
amended RBI Act, 1934?
6
What has been established by banks to aggregate and
consolidate stressed assets for subsequent resolution?
National Asset Reconstruction Company Limited
UN Secretary-General
António
Guterres
Which ministry is responsible for overseeing the Centre
of Excellence for Critical Minerals (CECM)?
Ministry of Mines
Which element is crucial in the production of
permanent magnets for motors?
Neodymium
What global commitment made at COP28 is directly
linked to a significant increase in the supply of critical
minerals?
Tripling renewable energy capacity
