DHFL resolution plan: RBI appoints 3-member Advisory Committee to help the Administrator
Updated : November 22, 2019 02:41 PM IST
The three members of the Advisory Committee include, Dr Rajiv Lall, NS Kannan and NS Venkatesh.
The central bank also appointed R. Subramaniakumar, ex-MD and CEO of Indian Overseas Bank, as the administrator of DHFL under Section 45-IE (2) of the Reserve Bank of India Act, 1934.
The RBI superseded the Board of Directors of DHFL owing to governance concerns and defaults by DHFL in meeting various payment obligations.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more