RBI takes control of Aviom India Housing Finance due to financial and governance issues.

The Reserve Bank of India (RBI) has taken over Aviom India Housing Finance's board due to governance issues and payment defaults. Ram Kumar, formerly of Punjab National Bank, is appointed as the administrator. The company faces financial troubles, including a cash shortage and alleged fraudulent transactions. The RBI may initiate an insolvency process under the Insolvency and Bankruptcy Code to resolve the issues.

2 months ago
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