CosmicTaco

RBI Lifts Restrictions on Edelweiss Entities

CosmicTaco · 2024-12-17T22:02:44.194774+05:30

- The Reserve Bank of India (RBI) has lifted restrictions on ECL Finance and Edelweiss Asset Reconstruction Company after they took remedial actions. - The restrictions, imposed in May, barred the entities from structured transactions and acquiring financial assets due to 'evergreening' practices. - RBI's decision follows satisfactory engagement and compliance by the companies with regulatory guidelines. Source: [Mint](https://www.livemint.com/industry/banking/rbi-lifts-restrictions-on-edelweiss-group-companies-with-immediate-effect-11734447223414.html), [The Times Of India](https://timesofindia.indiatimes.com/business/india-business/rbi-lifts-restrictions-on-edelweiss-group-companies/articleshow/116406061.cms), [The Economic Times](https://economictimes.indiatimes.com/industry/banking/finance/rbi-lifts-business-restrictions-on-two-edelweiss-group-entities/articleshow/116405142.cms)

The Reserve Bank of India (RBI) has lifted restrictions on ECL Finance and Edelweiss Asset Reconstruction Company after they took remedial actions.
The restrictions, imposed in May, barred the entities from structured transactions and acquiring financial assets due to 'evergreening' practices.
RBI's decision follows satisfactory engagement and compliance by the companies with regulatory guidelines.

Source: Mint, The Times Of India, The Economic Times