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"The industry association had a meeting with senior government officials and expects some relief or clarity within the next 30 days," said a source at the grouping that represents the interests of private equity and venture funds. The industry has flagged its concerns to the government and the finance ministry is examining these, a senior government official told ET.
The announcements by PEL and IIFL Finance come as a proactive measure to align with the RBI’s newly instituted norms governing the financial sector’s involvement in AIFs.
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, has committed a US$ 30 million senior
Shares of NBFCs, like Piramal Enterprises, Indiabulls Housing Finance, and Edelweiss Financial Services, fell 5-10% on Wednesday. The Nifty Bank index declined 0.9%
A Reserve Bank of India (RBI) circular issued Tuesday prohibits banks and NBFCs from investing in AIFs to prevent questionable asset transfers. This will affect large banks and NBFCs involved in AIF investments. "This RBI measure imposes significant requirements on banks and NBFCs," said Sai Krishna Bharathan, Partner, Trilegal.