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RBI constitutes six-member panel headed by former ED to review ARCs

The panel will recommend suitable measures for enabling such entities to meet the growing requirements of the financial sector

Crony capitalism has built up slowly in India, emerging as a Frankenstein’s monster a decade and a half after politicians began to unchain the private sector in the early 1990s

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RBI governor Shaktikanta Das had articulated intent to form the panel while announcing monetary policy for 2021-22.

1 min read Last Updated : Apr 20 2021 | 1:13 AM IST

The Reserve Bank of India has formed a six-member panel headed by Sudarshan Sen, former Executive Director, to carry out comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem.

The panel will recommend suitable measures for enabling such entities to meet the growing requirements of the financial sector.

RBI in a statement said besides Sen other members of panel are 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; and R Anand, Chartered Accountant.

The Committee

Topics : Reserve Bank of India ARCs financial sector

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