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RBI takes over Anil Ambani group's Reliance Capital due to 'governance' issues

Shortpedia

Content Team
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The Reserve Bank of India has taken over Anil Ambani group's Reliance Capital. This was done due to 'defaults' and 'serious government concerns'. The central bank said it has taken the decision “in view of the defaults by RCL in meeting the various payment obligations to its creditors and serious governance concerns which the board has not been able to address effectively.”