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Reserve Bank of India Date :Nov 30, 2021 The Reserve Bank of India, onNovember 29, 2021has superseded the board of directors of Reliance Capital Ltd. and appointed Shri Nageswara Rao Y, ex-Executive Director, Bank of Maharashtra, as the Administrator. In exercise of powers conferred under section 45-IE (5) (a) of the RBI Act 1934, the Reserve Bank has constituted a three-member Advisory Committee to assist the Administrator in discharge of his duties. The members of the Advisory Committee
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FAQ :
The RBI has superseded the board of directors of Reliance Capital Ltd. and appointed an Administrator.
Shri Nageswara Rao Y, ex-Executive Director of Bank of Maharashtra, has been appointed as the Administrator.
An Advisory Committee has been constituted to assist the Administrator in discharging his duties concerning Reliance Capital Ltd.
The members are Shri Sanjeev Nautiyal (ex-DMD, State Bank of India), Shri Srinivasan Varadarajan (ex-DMD, Axis Bank), and Shri Praveen P Kadle (ex-MD & CEO, Tata Capital Limited).
The committee will advise the Administrator in the operations of Reliance Capital Ltd. during the corporate insolvency resolution process.
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Notification No : PR : 2021-2022/1285Published in Community & General
Source : https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52649