The Reserve Bank of India (RBI) on Monday superseded the board of industrialist Anil Ambani-promoted Reliance Capital, a non-banking financial company (NBFC), owing to defaults and governance issues.
It said the
RBI supersedes Reliance Capital board, says firm to go for insolvency soon
The RBI has appointed Nageswar Rao Y, former executive director of Bank of Maharashtra, administrator of Reliance Capital
 "Reliance Capital")
Premium
Reliance Capital had ambitions in banking, but the central bank has stayed away from giving licences to large corporate houses
Topics : Reserve Bank of India RBI Reliance Captial
First Published: Nov 29 2021 | 4:42 PM IST
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