Restrictions lifted: ECL Finance and Edelweiss ARC get RBI's green signal

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Restrictions lifted: ECL Finance and Edelweiss ARC get RBI's green signal

//business-finance.news-articles.net/content/202 .. ce-and-edelweiss-arc-get-rbi-s-green-signal.html

Published in Business and Finance on Tuesday, December 17th 2024 at 11:40 GMT by Business Today

🞛 This publication is a summary or evaluation of another publication
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The Reserve Bank of India (RBI) has lifted restrictions on ECL Finance Ltd and Edelweiss Asset Reconstruction Company Ltd (EARCL), allowing them to resume normal business operations. Previously, in May 2024, the RBI had imposed restrictions on ECL Finance due to concerns over its adherence to regulatory guidelines, particularly in the management of its loan portfolio and adherence to KYC norms. Similarly, Edelweiss ARC faced restrictions for issues related to its loan management practices. The lifting of these restrictions signifies that both companies have addressed the RBI's concerns and are now permitted to engage in structured transactions, including the acquisition of security receipts and the sale of non-performing assets (NPAs). This development is seen as a positive step for both entities, enabling them to expand their business activities and potentially improve their financial performance.

Read the Full Business Today Article at:
[ https://www.businesstoday.in/latest/corporate/story/restrictions-lifted-ecl-finance-and-edelweiss-arc-get-rbis-green-signal-457681-2024-12-17 ]