RBI sets up three-member advisory committee to assist DHFL administrator

The committee would comprise of Rajiv Lall, non-executive chairman, IDFC First Bank Ltd, N S Kannan, managing director and CEO, ICICI Prudential Life Insurance Co. Ltd, and NS Vekatesh, CEO Amfi

The Reserve Bank of India (RBI) on Friday constituted a three-member advisory committee to assist DHFL's administrator in discharge of his duties.

The three-member advisory committee would comprise of Rajiv Lall, non-executive chairman, IDFC First Bank Ltd, N S Kannan, managing director and CEO, ICICI Prudential Life Insurance Co. Ltd, and NS Venkatesh, chief executive, Association of Mutual Funds in India.

The appointment is in line with Insolvency and Bankruptcy Code rules that provide for the concerned financial sector regulator appointing a committee of advisors to advise the administrator in the operations of the financial service provider during the insolvency