Hello,
I have used the below command to create audio record loopback device to receive the audio data from BLE.
sudo modprobe snd-aloop
And now "arecord -l" output looks like below.

pi@raspberrypi:~ $ arecord -l
* List of CAPTURE Hardware Devices *
card 1: Loopback [Loopback], device 0: Loopback PCM [Loopback PCM]
Subdevices: 8/8
Subdevice #0: subdevice #0
Subdevice #1: subdevice #1
Subdevice #2: subdevice #2
Subdevice #3: subdevice #3
Subdevice #4: subdevice #4
Subdevice #5: subdevice #5
Subdevice #6: subdevice #6
Subdevice #7: subdevice #7
card 1: Loopback [Loopback], device 1: Loopback PCM [Loopback PCM]
Subdevices: 8/8
Subdevice #0: subdevice #0
Subdevice #1: subdevice #1
Subdevice #2: subdevice #2
Subdevice #3: subdevice #3
Subdevice #4: subdevice #4
Subdevice #5: subdevice #5
Subdevice #6: subdevice #6
Subdevice #7: subdevice #7
pi@raspberrypi:~ $

Now I am able to record the audio (from BLE) to my loopback device using below commands.
arecord -D hw:1,1 -f S16_LE test.wav
OR
arecord -D STL_capture -f S16_LE -r 16000 -c 1 test.wav

but I would like to use simple "arecord test.wav" command to record the audio from "STL_capture" loopback card, can you please share me the configuration or how can I do this ?

Thanks for your support & help.

Reference:
https://github.com/STMicroelectronics-CentralLabs/BlueVoice-for-Linux