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Economy
Mahesh

27/04/21 09:05 AM IST

RBI sets up committee to review working of ARCs

In News 
  • 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.
Details 
  • The panel will be headed by former Executive Director of RBI, Sudarshan Sen.
  • 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.
Source- PIB 

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