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Business News

Nov 23, 2019
7:16AM

RBI constitutes 3-member panel for DHFL

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The Reserve Bank of India (RBI) yesterday constituted a three-member panel to advise the Administrator of Dewan Housing Finance Corporation Limited, DHFL, ahead of formally moving for resolution of the troubled mortgage lender under the insolvency law.

According to RBI's official statement, 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.

On Wednesday, Reserve Bank of India superseded DHFL's board and placed the company under an administrator in the wake of governance issues and severe liquidity crisis which had led to a string of defaults.

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