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Reserve Bank Of India Supersedes Board Of Reliance Capital

Indian-GRAPEVINE-reserve-bank-of-india-supersedes-board-of-reliance-capital

Published 02 Dec, 2021

By Staff Reporter

The Reserve Bank of India said on Monday it will initiate bankruptcy proceedings against Reliance Capital Ltd and superseded the non-banking financial company's board on governance concerns.The Reserve Bank of India (RBI) appointed Nageswar Rao Y, a former executive director at Bank of Maharashtra Ltd, as the administrator of Reliance Capital.



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