The Reserve Bank of India (RBI) superseded the board of Dewan Housing Finance Corporation (DHFL) last week.
The regulator also appointed an administrator and three-member advisory committee to oversee its operations during the process of resolution under the Insolvency and Bankruptcy Code (IBC).
The markets regulator also made it mandatory for listed companies to disclose defaults in order to improve transparency regarding their financial health to investors.
SEBI's default disclosure norms may help lenders arrest piling up of bad loans, say experts
The financial market regulator's mandate on default disclosure by listed companies is expected to keep a check on how lenders deal with stressed assets and prevent the ever-greening of loans with such entities.
Reserve Bank of India sets up 3-member panel to assist DHFL administrator
RBI appointed a three-member advisory committee to assist the administrator in the resolution process of DHFL.
RBI supersedes DHFL board: What lies ahead for the NCLT-bound lender
The Reserve Bank of India, on November 20, superseded the board of directors of DHFL and appointed former banker R Subramaniakumar as the Administrator.
The move was taken on account of "governance concerns and defaults by DHFL in meeting various payment obligations," the RBI said.
Rana Kapoor left with negligible stake in Yes Bank as promoter firm offloads shares
Yes Bank’s promoter and former chief executive Rana Kapoor has been left with the indirect ownership of only 900 shares in the private lender that he co-founded 15 years ago.
Yes Bank discloses FY19 bad loan divergence of Rs 3,277 crore; to finalize capital raising by month-end
Yes Bank disclosed divergence in reporting of non-performing assets (NPAs) at Rs 3,277 crore for the financial year 2018-19, in a notification to exchanges on November 19.
Yes Bank also said its board of directors will meet by end of November to finalise capital raising plans.
PMC Bank crisis aftermath: Depositors' confidence in banks takes a big knock
The crisis at Punjab and Maharashtra Cooperative (PMC) Bank has dealt a body blow to depositors' trust. Customers across other financial entities, be it public, private, cooperative and non-bank categories are now questioning the stability of their banks. Retirees being the most concerned as the events have left them worrying about their life's savings.
Banks should not delay recognition of losses, RBI Deputy Governor Vishwanathan says
RBI wants the country's lenders to disclose more in terms of bad loans and frauds, and immediately account for losses arising out of such situations rather than defer the impact over a period of time, Deputy Governor NS Vishwanathan said on November 22.
Source: moneycontrol.com