The Reserve Bank of India on Monday superseded the board of directors of Reliance Capital and announced plans for insolvency proceedings citing payment defaults and serious governance concerns which the board has not been able to address. The RBI also appointed Nageswar Rao Y, former executive director of Bank of Maharashtra as the administrator.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3DcHsU0
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