India's central bank files bankruptcy application against Aviom India Housing Finance

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India's central bank files bankruptcy application against Aviom India Housing Finance

//business-finance.news-articles.net/content/202 .. ication-against-aviom-india-housing-finance.html

Published in Business and Finance on Thursday, January 30th 2025 at 6:00 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

India's central bank on Thursday said it has filed an application with a company tribunal to initiate bankruptcy proceedings against Aviom India Housing Finance.

2025-01-30 210 x 110 / 5688 Bytes

The Reserve Bank of India (RBI) has initiated bankruptcy proceedings against Aviom India Housing Finance, a non-banking financial company, due to its failure to meet regulatory obligations. This action was taken under the Insolvency and Bankruptcy Code, 2016, following the company's inability to comply with RBI's directives. Aviom India Housing Finance, which provides small-ticket housing loans, has been facing financial distress, prompting the central bank to step in to protect the interests of depositors and maintain financial stability. The move underscores RBI's commitment to enforcing regulatory compliance and addressing systemic risks within the financial sector.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/indias-central-bank-files-bankruptcy-application-against-aviom-india-housing-2025-01-30/ ]