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

Other members of the panel include:

• 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 panel

• Review existing legal and regulatory framework applicable to ARCs
• Recommend measures to improve efficacy of ARCs.
• Review business models of ARCs.
• Study role of ARCs in resolution of stressed assets including under Insolvency & Bankruptcy Code (IBC), 2016
• Suggest ways for improving liquidity in and trading of security receipts.
• Recommend suitable measures for enabling ARCs to meet the growing requirements of the financial sector.