IVCA seeks more time for lenders to comply with RBI rules

"The industry body has suggested extending the timelines from 30 days to six months, with varying durations for NBFCs and banks, based on their exposure to AIFs," said a source.

By Shilpy Sinha, ET Bureau | Updated: Jan 05, 2024, 08.46 AM IST

The original one-month deadline, mandated by the RBI, expires on January 18.

Mumbai: The Indian Venture and Alternate Capital Association (IVCA) has sought an extension of the deadline to six months for lenders that must mandatorily liquidate investments in Alternative Investment Funds (AIFs) linked to a debtor company, or furnish 100% of their exposure if unable to do so. The original one-month deadline, mandated by the RBI, expires on January 18.

"The industry body has suggested extending the timelines from 30 days to six months, with varying durations for NBFCs and banks, based on their exposure to AIFs," said a source.

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