ENA Economy 2021-04-20 11:43:08 <p><strong>New Delhi, Apr 20 (KNN) </strong>The Reserve Bank of India (RBI) set up a committee to undertake a comprehensive review of the working of <strong>asset reconstruction companies (ARCs)</strong> in the financial sector ecosystem and recommend suitable measures for enabling such entities to meet the growing requirements.</p> <p>The six-member committee will be headed by Sudarshan Sen, former executive director, RBI.</p> <p>The committee will review the legal and regulatory framework of ARCs and recommend measures to improve their efficacy and also their role in resolution of stressed assets including under Insolvency &amp; Bankruptcy Code (IBC).</p> <p>Other members of the committee are ICICI executive director Vishakha Mulye, former SBI DMD PN Prasad, EY partner Abizer Diwanji, MDI professor of economics Rohit Prasad and chartered accountant R Anand.</p> <p>''The committee has to submit its report within three months from the date of its first meeting,'' the apex bank said a statement on Monday.</p> 26705 https://knnindia.co.in/news/newsdetails/economy/rbi-sets-up-committee-to-review-arc-norms 2021-04-20 11:43:08 knnindia.co.in