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Economy News

News on Indian Economy and Sectors, which have impacts in the market.

 
RBI notifies format for display of information about Secured assets possessed under SARFAESI Act
26-Sep-23 12:06Hrs IST

The Reserve Bank Of India or RBI stated in a latest update that as a part of the move towards greater transparency, it has been decided that the Regulated Entities (REs) of the Reserve Bank which are secured creditors as per the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, shall display information in respect of the borrowers whose secured assets have been taken into possession by the REs under the Act. REs shall upload this information on their website in the format as prescribed by the central bank. The first such list shall be displayed on the website of REs within six (6) months from the date of this circular, and the list shall be updated on monthly basis.

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