Q. Who has been appointed the head of the reconstituted Oversight Committee (OC) of RBI for faster bad loan resolution?
Answer: Pradeep Kumar
Notes: The Reserve Bank of India (RBI) has recently expanded the Oversight Committee (OC) from 2 to 5 for faster bad loan resolution in the banking sector. The three new members are M.B.N. Rao, Y.M. Deosthalee and S. Raman. According to the reconstituted structure, the 5-member OC will be led by a chairman and work through multiple benches to approve various cases of restructuring referred by banks. Pradeep Kumar has been appointed as the chairman of the OC. With the expanded mandate, the OC will be responsible for approving cases of restructuring under the central bank’s S4A (Scheme for Sustainable Structuring of Stressed Assets) as well as for resolving stressed cases where the aggregate exposure of the banking industry is above Rs 500 crore.
This question is part of Current Affairs Daily 20 MCQ Series Course on GKToday Android app.
