Aditya Birla Capital’s wholly owned subsidiary - Aditya Birla ARC (ABARCL) has been issued Certificate of Registration by The Reserve Bank of India (RBI) for commencement of asset reconstruction business.
Earlier, ABARCL had received in-principle approval from RBI to set up an Asset Reconstruction Company (ARC). The in-principle approval was subject to the fulfillment of certain general terms and conditions as specified by the RBI. ABARCL has complied with the conditions and has received the Certificate of Registration issued by RBI for commencement of business.
Aditya Birla Capital is one of the largest financial services players in India.
