RBI acts against two Edelweiss Group firms over evergreening concerns

The central bank has barred Edelweiss Asset Reconstruction Ltd from acquiring any financial assets and ECL Finance from undertaking any structured transactions other than repayment or closure of accounts.

29 May, 20242 min
0
Banner image

Subscribe to read this story

We publish over 500 original, detailed stories every year on startups, corporates, stock markets and economic current affairs.

$99 for one year

SUBSCRIBE
Already have an account? Sign In

Not ready to subscribe? Sign up for a free account

We value our free readers. Read 100+ stories every year.

You may also like

Business
Story image

What prompted the inexplicable choice for RBI governor?

The Indian government wants someone who toes its line in the RBI chair. The economy needs someone who can rise above being a yes-man.

Business
Story image

Why Shaktikanta Das is a shoo-in for a third term as RBI governor

The central bank, under Das, has gone from reactive to proactive regulation. With signs of stress resurfacing in the banking system, the need for a taskmaster like him at the helm is stronger than ever.

Markets
Story image

Why you shouldn’t already celebrate India’s mutual fund diversification strategy

While SEBI has allowed domestic mutual funds to invest in overseas funds, the cap set by the RBI for such funds could defeat the purpose of the market regulator’s move.