Concept:Regulatory guidelines for Asset Reconstruction Companies are issued by the banking regulator.Explanation:In July 2020, the Reserve Bank of India (RBI) released a "Fair Practices Code" for Asset Reconstruction Companies. This code aims to ensure transparency and fairness in the functioning of ARCs. All ARCs registered with banks were directed to adopt this code with the approval of their Board.Answer:Reserve Bank of India (RBI)Correct option: D. Reserve Bank of India.