As announced in the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 07, 2021, Reserve Bank of India had, on April 19, 2021, announced the constitution of a Committee to undertake a comprehensive review of the legal and regulatory framework applicable to Asset Reconstruction Companies (ARCs) under the chairmanship of Shri Sudarshan Sen, former Executive Director, Reserve Bank of India. The terms of reference of the Committee were to examine the issues and recommend suitable measures for enabling the ARCs to meet the growing requirements of the financial sector.

The Committee has since submitted its report and the same is being placed on the RBI website today for comments of stakeholders and members of the public. Comments may be submitted by December 15, 2021 through email. RBI will examine them before taking a final view on the recommendations made by the Committee.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1140