Quick Summary
As part of theStatement on Developmental and Regulatory Policiesreleased along with theMonetary Policy Statement on April 7, 2021, the Reserve Bank of India had announced setting up of 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 such entities to meet the growing requirements of the financial sector. Accordingly, aPress Release dated April 19, 2021has been iss
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FAQ :
The committee's purpose is to conduct a comprehensive review of how Asset Reconstruction Companies (ARCs) operate within the financial sector and recommend improvements.
The committee is chaired by Shri Sudarshan Sen, a former Executive Director of the Reserve Bank of India.
The committee will review the legal and regulatory framework for ARCs, their role in resolving stressed assets (including under the IBC), improving liquidity and trading of security receipts, and their business models.
Views and suggestions are invited from ARCs, market participants, and other stakeholders.
The deadline for submitting suggestions is May 31, 2021.
Suggestions can be emailed to the provided email address with the subject line 'Suggestions – Committee on ARCs'.
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