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BRIEF-India cenbank announces names of members of overseeing committee
June 22, 2017 / 10:48 AM / 3 months ago

BRIEF-India cenbank announces names of members of overseeing committee

June 22 (Reuters) - Reserve Bank of India:

* Reserve bank announces names of the members of overseeing committee

* Composition of OC will be: Pradeep Kumar (chairman), Janki Ballabh, M.B.N Rao, Y. M. Deosthalee, S. Raman (w.e.f. September 7, 2017)

* Reconstituted OC will work with an expanded mandate to review, in addition to cases being restructured under the scheme for sustainable structuring of stressed assets (S4A)

* Overseeing committee will, for the present, have 5 members, including a chairman, and will work through multiple benches as may be necessary

* Reconstituted OC will review resolution of cases where aggregate exposure of the banking sector to the borrowing entity is greater than 5 billion rupees Source text: (bit.ly/2sEynR9)

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