IBA sets up working group on ARCs

Current Context: IBA or Indian Banks’ Association has set up a working group on asset reconstruction companies (ARCs). The group will operate continuously on various issues and take them up with the IBA, the RBI and the government.

• The four-member group comprises Hari Hara Mishra, CEO of Asset Reconstruction Companies Association, Purshotam Agarwal, chief investment officer of National Asset Reconstruction Company (NARCL), Mythili Balasubramanian of Edelweiss, and Tarun Kumar, director of Encore Asset Reconstruction Company.
• The working group was formed in the backdrop of the creation of the NARCL, a bad bank promoted by lenders, which also enjoys some guarantees from the government.

Question:

Q.1 How many members are there in the working group on ARCs set up by IBA?
a. Two
b. Three
c. Four

d. Five