RBI expands oversight committee

The Reserve Bank of India (RBI) has expanded its Oversight Committee — formed to advice banks on stressed asset resolution — by adding three more members, taking the total to five.

S. Raman and M.B.N. Rao, both former Canara Bank chairman and manging director, and former L&T Finance Holdings chairman Y. M. Deosthalee, are the new members. Former SBI managing director, Janki Ballabh, is the other member. The committee is headed by former chief vigilance commissioner, Pradeep Kumar.

The RBI said a circular regarding details of the process to be followed by banks for resolution of identified stressed assets within six months would be issued separately.

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Printable version | Sep 20, 2020 2:37:31 PM |

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