RBI sets up Committee to Suggest Financial Parameters to Tackle COVID-19

Published on August 09, 2020
Current Context: The Reserve Bank of India has set up a committee which will work to tackle the financial parameters which have arisen due to COVID-19 related stressed assets.
RBI sets up Committee to Suggest Financial Parameters to Tackle COVID-19
  • The committee is headed by K V Kamath. The committee will be submitting its solutions and recommendations to RBI in 30 days.
  • RBI has also announced that it will develop a special window to be titled as ‘Resolution Framework for COVID-19 related Stress’. This specialized window will be under Prudential Framework on Resolution of Stressed Assets.
  • The committee formed by RBI will perform the process of validation for the resolution plans which will be implemented under the framework in respect of all accounts.
  • The other members of the committee are Diwankar Gupta, T N Manoharan and Ashvin Parekh.
  • The committee will work to reduce financial stress being faced due to COVID-19 pandemic.
  • Static Part: 
    • HQ of RBI: Mumbai
    • Governor of RBI: Shaktikanta Das

Question: 

Q.1 Who is head of the committee which is formed by RBI to suggest financial parameters to tackle COVID-19 related stressed assets?
a. Diwankar Gupta
b. T N Manoharan
c. K V Kamath
d. Ashvin Parekh

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