2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes Bank
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HDFC Bank
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ICICI Bank
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Axis Bank
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Detailed explanation-1: -Yes Bank on Monday announced the completion of the assignment of its stressed assets loan portfolio to the tune of a whopping ₹48,000 crore to J.C. Flowers Asset Reconstruction (JC Flowers ARC). This is by far the single largest transaction of sale of non-performing assets in the country’s banking system.
Detailed explanation-2: -An Asset Reconstruction Company is a specialized financial institution that buys the NPAs or bad assets from banks and financial institutions so that the latter can clean up their balance sheets.
Detailed explanation-3: -ARCIL top competitors include: Creative Avenue, Express Print & Mail, Alpine WEB, Eagle & Wheeler LLC Who is the CEO of ARCIL?
Detailed explanation-4: -India’s first ARC was a company named ARCIL, which has been a leader and a pioneer in this field, having established industry standards for the rest of the market to follow.
Detailed explanation-5: -ASREC is a securitization company carrying out activities under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002.