It’s a fast and furious Reserve Bank of India (RBI). I am talking about the way the banking regulator is pushing for bankruptcy proceedings for two Kolkata-based non-banking financial companies — Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL).
On October 4, it superseded the boards of both the companies on concerns over the quality of governance and inability to service debt. It also appointed a former senior banker as an administrator and a three-member advisory committee to oversee the insolvency proceedings. “Shocked” by the RBI ...
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