Categories: Schemes

RBI sets up committee to review working of ARCs

The Reserve Bank of India (RBI) has constituted a six-member panel to carry out a comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem. The panel will be headed by former Executive Director of RBI, Sudarshan Sen.

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Other members of the panel include:

Vishakha Mulye – Executive Director, ICICI Bank;
P N Prasad – former Dy. Managing Director, SBI;
Rohit Prasad – Professor of Economics, MDI, Gurgaon;
Abizer Diwanji – Partner, Ernst & Young;
R Anand – Chartered Accountant

Terms of reference for the panel:

Review existing legal and regulatory framework applicable to ARCs
Recommend measures to improve the efficacy of ARCs.
Review business models of ARCs.
Study role of ARCs in the resolution of stressed assets including under Insolvency & Bankruptcy Code (IBC), 2016.
Suggest ways for improving liquidity in and trading of security receipts.
Recommend suitable measures for enabling ARCs to meet the growing requirements of the financial sector.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.