RBI names six member committee to review ARC norms

RBI names six member committee to review ARC norms
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Synopsis
​The committee will review 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 & Bankruptcy Code (IBC).
The committee has to submit its report within three months from the date of its first meeting. RBI had announced a review of ARC regulations in its April monetary policy review.
Reserve Bank of India (RBI) has named a six member committee under the chairmanship of Sudarshan Sen former RBI executive director to review regulations on asset reconstruction companies (ARCs).

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