A day after NCLT admitted RBI's petition for insolvency resolution of Reliance Capital, the central bank on Tuesday said it has retained the three-member Advisory Committee to assist the newly appointed administrator of the crisis-ridden NBFC. The Mumbai bench of the National Company Law Tribunal( NCLT) on Monday admitted the Reserve Bank's plea to initiate insolvency resolution proceedings against Reliance Capital. Last month, the RBI had superseded Reliance Capital's board, citing defaults and

The financial services industry is changing fast.... One should ask the industry players on how IRDAI is a control freak.... If not, then the issues should be probed," an IRDAI official told IANS. According to the official, normally the Chief Vigilance Officer( CVO) should come from outside the organisation....