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Reserve Bank Deputy Governor Swaminathan J has expressed concern over the increasing regulatory violations and warned Asset Reconstruction Companies (ARCs)...
The RBI has found several instances of Asset Reconstruction Companies, which have been set up to recover NPAs of banks, not fulfilling their role but instead using innovative ways to structure transactions in order to circumvent regulations.The ...
The RBI Deputy Governor urged ARC chiefs to adopt a regulation-plus approach where you not only comply with the letter of the regulation but also its spirit.
Both the companies have been directed to strengthen their assurance functions to ensure regulatory compliance in letter and spirit at all times, the RBI said.
Shares of YES Bank settled at Rs 24.96 on Friday, falling about 1.89 per cent, with a total market capitalization of the lender stood at more than Rs 71,800 crore.