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The Reserve Bank of India (RBI) said on Tuesday that a "compromise settlement" with borrowers aims to enable multiple avenues to lenders to recover the money in default without much delay.
While some reports had said that wilful defaulters can now get a new loan after 12 months of executing a compromise settlement, the RBI said this was not the case.
According to the RBI, the primary regulatory objective of the circular -- issued on June 8, 2023 -- is to enable multiple avenues to lenders to recover the money in default without much delay.
RBI has decided to grant general permission for branch expansion in the approved area of operation to
Back in 2014, Sebi felt that foreign investors were using two main artifices setting up protected cell companies or using segregated cell company structure to route money into India