 "RBI announces names of five-member overseeing committee")
The Reserve Bank of India today announced names of the members of overseeing committee
The composition of OC will be as follows with effect from September 7, 2017: Pradeep Kumar (chairman), Janki Ballabh, M B N Rao, Y M Deosthalee, S Raman.
Reconstituted OC will work with an expanded mandate to review cases being restructured under the scheme for sustainable structuring of stressed assets (S4A).
Overseeing committee will, for the present, have five 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 Rs 500 crore.
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