The Reserve Bank of India (RBI) has appointed Shri Vikramaditya Singh Khichi as a member of the Advisory Committee of M/s Reliance Capital Ltd, a leading financial services company in India. The appointment was made to advise the administrator of debt-ridden Reliance Capital (RCap), as per a release by the apex bank.
Khichi, a former executive director of Bank of Baroda, brings with him over three decades of experience in the banking and financial services sector. He has held various key positions in Bank of Baroda, including that of General Manager, and has been involved in the strategic planning, business development and risk management of the bank.
With his vast experience and expertise, Khichi will be a valuable addition to Reliance Capital’s advisory committee, which is responsible for providing strategic guidance to the company’s management in navigating the challenges and opportunities in the financial services sector.
The RBI on December 7, 2021, constituted an advisory committee to advise the administrator in the operations of the financial service providers during the corporate insolvency resolution process of RCap. Earlier, RCap was planning to challenge the verdict of the National Company Law Tribunal (NCLT) that ruled Torrent Investment as the highest bidder for the firm in the Supreme Court.
Consequent upon the resignation of Shri Srinivasan Varadarajan from the Advisory Committee with effect from February 17, 2023, it has been decided to appoint Shri Vikramaditya Singh Khichi as a member of the Advisory Committee with immediate effect.
The appointment of Khichi comes after the resignation of Srinivasan Varadarajan from the advisory committee. The committee comprises of experts from various fields who provide advice to the administrator of Reliance Capital in the management of the company’s affairs.
The move by RBI to appoint Khichi to the advisory committee of Reliance Capital is a positive step in ensuring that the company is well-managed and continues to provide quality financial services to its customers. It also demonstrates the regulator’s commitment to ensuring that the interests of stakeholders are protected and that the financial system remains stable and robust.
In addition to Khichi, The Advisory Committee will now comprise of members named as Shri Sanjeev Nautiyal, ex-DMD, State Bank of India, Shri Praveen P Kadle, ex-MD & CEO, Tata Capital Limited, Shri Vikramaditya Singh Khichi, ex-ED, Bank of Baroda. The Advisory Committee shall advise the Administrator in the operations of Reliance Capital Ltd during the corporate insolvency resolution process.
Overall, the appointment of Khichi is a testament to his proven track record in the banking and financial services sector, and his ability to contribute to the growth and success of the financial services industry in India.
