RBI imposes business restrictions on Edelweiss Group's ECL Finance and EARCL due to supervisory concerns.
The Reserve Bank of India (RBI) has imposed business restrictions on Edelweiss Group's ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited over material supervisory concerns. The central bank has directed ECL Finance Ltd (ECL) to desist, with immediate effect, from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/or closure of accounts in its normal course of business.
May 29, 2024
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