RBI Constituted 3-Member Panel for DHFL

Published on November 23, 2019
Current context: The Reserve Bank of India (RBI) has constituted a three-member panel to advise the Administrator of Dewan Housing Finance Corporation Limited, DHFL. 
RBI Constituted 3-Member Panel for DHFL
  • RBI has set up the 3-member panel in exercise of the power conferred under section 45 IE 5(a) of the RBI Act 1934
  • Rajiv Lall, chairman of IDFC, N S Kannan, Managing Director of ICICI Prudential Life Insurance's and N S Venkatesh, Chief Executive of Mutual Funds' Association AMFI's will be the members of the panel with DHFL administrator R. Subramaniakumar.
  • Reserve Bank of India superseded DHFL's board on 20th Nov 19 and placed the company under an administrator to help recover nearly Rs 84,000 crore and ensure that the debt-laden company’s asset quality does not worsen any further
  • RBI will further refer the mortgage lender to the National Company Law Tribunal (NCLT) for appointing the administrator as the insolvency resolution professional
  • The RBI has taken the step in the wake of governance issues and severe liquidity crisis which had led to a string of defaults.
  • DHFL is the first non-bank lender to be referred to the NCLT

Question: 

Q: 1. The Reserve Bank of India (RBI) has constituted a three-member panel to advise the Administrator of Dewan Housing Finance Corporation Limited, DHFL. The panel comprises of?
a. Rajiv Lall
b. N S Kannan
c. N S Venkatesh
d. Only a and c
e. All the above

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