RBI sets up committee to review working of ARCs
The Hindu
Panel to submit report in 3 months
The RBI on Monday set up a committee to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements. The six-member committee will be headed by Sudarshan Sen, former executive director, Reserve Bank of India (RBI). As per the terms of reference of the committee, the panel will review the existing legal and regulatory framework applicable to ARCs and recommend measures to improve efficacy of ARCs.
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