Asset reconstruction companies are hiring specialised collection agencies to recover unsecured retail loans as stress in this segment increases. ARCs are prompted by the need to use external infrastructure and banking guidelines. A push towards professionalisation in loan recovery is underway.
ONGC picks BP as tech partner for Western Offshore fields
BP already has a similar arrangement for ONGC’s flagship Mumbai High fields, but the latest move significantly expands its role, making it responsible for helping