Mumbai (Maharashtra) [India], The Reserve Bank of India (RBI) convened a conference for Directors and MD/CEOs of Asset Reconstruction Company (ARC) in Mumbai today. The theme of the event was 'Governance in ARCs', according to a press release. Was. ‘Towards Effective Resolutions’ was attended by over 80 representatives from all 27 ARCs across the country. The conference is part of a series of supervisory engagements being undertaken by the RBI with its regulated entities over the past year, including previous meetings with the Board. Executive Directors SC Murmu, Saurav Sinha, JK Das and Rohit Jain were present at the Scheduled Commercial Banks and Urban Cooperative Banks conference along with Deputy Governors M Rajeswara Rao and Swaminathan J. Other senior officials of the Department of Regulation and Supervision of RBI also participated. took. Underscoring the importance of the programme, in his keynote address, Lieutenant Governor M Rajeswara Rao stressed the critical role of strong governance in ARC.He explained that a strong administrative structure is essential for ARC to develop a strong business model. Rao highlighted the need for responsible conduct in recovery processes, urging ARCs to adhere to transparent and non-discriminatory practices outlined in the comprehensive Fair Practice Code (FPC). RBI Deputy Governor Swaminathan J in his address stressed the importance of leadership in promoting a culture of integrity and ethical behaviour, he drew attention to various supervisory concerns regarding the functioning of ARCs and advocated a “regulation plus” approach. . Swaminathan urged ARC boards to prioritize assurance functions such as risk management, compliance and internal audit, which are critical to mitigating risks, ensuring regulatory compliance and security. The organization's prestige conference featured technical sessions led by Chief General Managers of RBI, who discussed the regulatory aspects and supervisory expectations in detail. These sessions were aimed at providing ARC leaders with a deep insight into the regulatory landscape and supervisory priorities.The event concluded with an open forum. The interactive session, where participants directly connected with the Executive Directors of RBI, addressed questions and shared insights.