Question

What is a key change introduced by the RBI in norms for settlement of dues by Asset Reconstruction Companies (ARCs)?

A Full board approval is mandatory for all dues above ₹1 crore
B Independent Advisory Committees (IACs) will approve all settlements
C Dues above ₹1 crore can now be settled by a board-approved committee
D All settlement decisions must involve officials from asset acquisition
E Settlements require final approval from the RBI for all cases
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