The Reserve Bank of India’s (RBI’s) action on Reliance Capital (RCL) stems from several factors that were long in the making.
Defaults apart, the central bank’s inspection found that the firm
RBI probe found liabilities swelling, but capital eroding rapidly at RCap
The RBI had kept the firm in constant watch as part of its informal asset quality review, and carried out regular inspections
 "Reliance Capital")
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Welcoming the RBI move, Reliance Capital said it will cooperate fully with the administrator appointed by the RBI for expeditious resolution of its debt in the best interests of all stakeholders
Topics : Reliance Capital RBI
First Published: Nov 30 2021 | 11:09 PM IST
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