The Reserve Bank of India has constituted a 3-member committee to advise the administrator of DHFL before it is formally moving for resolution of the mortgage lender under the insolvency law. The panel consists of IDFC First Bank’s non-executive chairman Rajiv Lall, ICICI Prudential Life Insurance’s MD and CEO N S Kannan, and mutual funds” association AMFI’s chief executive N S Venkatesh. RBI had earlier superseded DHFL’s board and placed the company under an administrator in the wake of governance issues and severe liquidity crisis which led to defaults. R. Subramaniakumar, former MD and CEO of Indian Overseas Bank, has been appointed the administrator. RBI said the panel will be assisting the administrator in discharge of his duties.
