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The Reserve Bank of India (RBI) has imposed business restrictions on ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited due to supervisory issues. The central bank has directed Edelweiss ARC to cease and desist from acquiring financial assets, including Security Receipts (SRs), and from reorganizing existing SRs into senior and subordinate tranches. Additionally, ECL Finance is barred from undertaking any structured transactions. The RBI's actions are based on material concerns observed during supervisory examinations. As a result, Edelweiss Financial Services saw a significant drop of over 10% in its market value.
🚨 RBI imposes business restrictions on Edelweiss group's NBFC arm and asset reconstruction company. Read all about the central bank's recent crackdown and its implications in our analysis 👇 https://t.co/qoUcu73GuD @Dinesh_Unni | #RBI #Edelweiss | @EdelweissFin
🚨 RBI imposes business restrictions on Edelweiss group's NBFC arm and asset reconstruction company. Learn more about the central bank's recent crackdown and its implications in our analysis 👇 https://t.co/qoUcu73GuD #RBI #Edelweiss | @EdelweissFin
News brief. The RBI has barred Edelweiss Asset Reconstruction Ltd from acquiring any financial assets and ECL Finance from undertaking any structured transactions. https://t.co/SwgzjSUCnY