Asset Reconstruction Company India Limited (ARCIL) - Following the enactment of the Securitisation Act in 2002, ICICI Bank together with other institutions, set up ARCIL (www.arcil.co.in) in 2003, to create a facilitative environment for the resolution of distressed debt in India. ARCIL was established to acquire non performing assets (NPAs) from financial institutions and banks with a view to enhance the management of these assets and help in the maximisation of recovery. This would relieve institutions and banks from the burden of pursuing NPAs, and allow them to focus on core banking activities.