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

Reliance Capital had ambitions in banking, but the central bank has stayed away from giving licences to large corporate houses

The Reserve Bank of India (RBI) on Monday superseded the board of industrialist Anil Ambani-promoted Reliance Capital, a non-banking financial company (NBFC), owing to defaults and governance issues.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

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First Published: Nov 29 2021 | 4:42 PM IST

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