UnitedHealth Group
Search results
7 hours ago · The Reserve Bank of India (RBI) on Wednesday (May 29) imposed significant business restrictions, effective immediately, on ECL Finance Ltd (ECL) and Edelweiss Asset Reconstruction Company Ltd (EARCL), both part of the Edelweiss Group. This decisive action stems from serious supervisory concerns identified during regulatory examinations. NSE ...
2 hours ago · ECL has also been accused of not maintaining arm’s length with other group companies. “ECL, by taking over loans from non-lender entities of the group for ultimate sale to the group ARC, allowed itself to be used as a conduit to circumvent regulations which permit ARCs to acquire financial assets only from banks and financial institutions,” the regulator said.
19 hours ago · The Reserve Bank of India (RBI) has announced immediate supervisory actions against ECL Finance Limited (ECL) and Edelweiss Asset Reconstruction Company Limited (EARCL), citing significant supervisory concerns. The central bank has instructed ECL Finance Ltd to immediately cease all structured transactions related to its wholesale exposures ...
People also ask
What does ECL finance do?
What is the ECL?
Why did RBI impose strict business restrictions on ECL & earcl?
How did ECL serve as a conduit?
7 hours ago · RBI has directed ECL Finance (ECL) to cease and desist, with immediate effect, from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/ or ...
7 hours ago · New Delhi (India), May 29 (ANI): The Reserve Bank of India (RBI) has imposed stringent business restrictions on two entities of the Edelweiss Group–ECL Finance Limited (ECL) and Edelweiss Asset Reconstruction Company Limited (EARCL). This decisive action comes in response to supervisory concerns identified during recent examinations, as per RBI release. Show Full Article According […]
19 hours ago · ECL served as a conduit by taking over loans from non-lender group entities for ultimate sale to EARCL. Meanwhile, EARCL failed to place the RBI's supervisory letter before its Board.
6 hours ago · RBI further said it took the action based on material concerns that it observed during supervisory examination. These concerns arose out of the conduct of the group entities acting in concert, by entering into a series of structured transactions for evergreening stressed exposures of ECL, using the platform of EARCL and connected AIFs, thereby circumventing applicable regulations., Markets ...
