The Reserve Bank of India (RBI) has released the “Report of the Task Force on the Development of Secondary Market for Corporate Loans” for comments.
About:
The RBI had constituted a Task Force on Development of Secondary Market for Corporate Loans under the Chairmanship of Shri T. N. Manoharan, Chairman, Canara Bank, in May, 2019.
Key recommendations of the Task Force are as follows:
setting up of a Self-Regulatory Body of participants which will finalise detailed modalities for the secondary market for corporate loans including standardisation of documentation;
setting up a Central Loan Contract Registry;
setting up an online loan sales platform to conduct auctions/sale process of the secondary market loans;
amending the extant regulations applicable to, inter-alia, securitization and assignment of loans, asset reconstruction, Foreign Portfolio Investment and External Commercial Borrowings; and
amendments in regulations issued by SEBI, IRDA and PFRDA to enable participation of non-banking entities such as mutual funds, insurance companies and pension funds.
Dear Student,
You have still not entered your mailing address. Please enter the address where all the study materials will be sent to you. (If applicable).
