The Board of One 97 Communications Ltd. announces the formation of a Group Advisory Committee chaired by former SEBI Chairman M Damodaran to work with the Board in further strengthening compliance and regulatory matters.
The Committee includes veteran professionals like M.M. Chitale, former president of Institute of Chartered Accountants of India (ICAI) and a former governing Council Member of Banking Codes and Standards Board of India nominated by RBI
R. Ramachandran, former Chairman and Managing Director of Andhra Bank, is also part of this advisory group.
“The company’s management is committed to driving sustainable business growth while adhering to a regulatory and compliance framework,” One 97 said in a statement.
The move comes after the Reserve Bank of India took action against Paytm Payments Bank for repeated violations of norms.