Download the all-new Republic app:

Published 14:09 IST, November 22nd 2019

RBI appoints 3-member advisory panel for DHFL

The Reserve Bank on Friday constituted a three-member panel to advise the administrator of DHFL

Follow: Google News Icon
  • share
null | Image: self
Advertisement

The Reserve Bank on Friday constituted a three-member panel to advise the administrator of DHFL, ahead of formally moving for resolution of  the troubled mortgage lender under the insolvency law.

MASSIVE: RBI Supersedes DHFL's Board, Appoints Administrator For Insolvency Proceedings

Advertisement

IDFC First Bank's Non-Executive Chairman Rajiv Lall, ICICI Prudential Life Insurance's Managing Director and Chief Executive N S Kannan, and mutual funds' association AMFI's Chief Executive N S Venkatesh would be part of the panel, an official statement said.

On Monday, Reserve Bank of India (RBI) superseded DHFL's board and placed the company under an administrator in the wake of governance issues and severe liquidity crisis which had led to a string of defaults. Indian Overseas Bank's former managing director R Subramaniakumar was appointed as the administrator. 

Advertisement

READ: RBI Files Detalied Affadavit On The PMC Bank Scam In The Bombay High Court

14:00 IST, November 22nd 2019