Wednesday, 21 April 2021
The Reserve Bank of India (RBI) has constituted a six-member panel to hold out a complete assessment of the working of Asset Reconstruction Companies (ARCs) within the monetary sector ecosystem. The panel might be headed by former Executive Director of RBI, Sudarshan Sen.
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Other members of the panel embody:
- 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 present authorized and regulatory framework relevant to ARCs
- Recommend measures to enhance the efficacy of ARCs.
- Review enterprise fashions of ARCs.
- Study position of ARCs within the decision of confused property together with below Insolvency & Bankruptcy Code (IBC), 2016.
- Suggest methods for enhancing liquidity in and buying and selling of safety receipts.
- Recommend appropriate measures for enabling ARCs to fulfill the rising necessities of the monetary sector.
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