RBI plans to collect information on loan to Videocon from ICICI Bank

A source at ICICI Bank said Videocon paid its dues to the bank till December 2017 and might even pay the dues for the March quarter

The Reserve Bank of India (RBI) is planning to seek details from ICICI Bank on its Rs 32-billion loan exposure to the Videocon group.

“The RBI will first ascertain the facts. We can expect some action after that,” said a source close to the development. The finance ministry had said on Monday that it was up to the RBI to take action in the ICICI Bank case. The RBI has a lot of information on Videocon Industries, which it had recommended sending to the National Company Law Tribunal (NCLT) in December last year, said a source.

The RBI move follows