India's central bank lifts restrictions on Edelweiss Group companies

Edelweiss Financial Services

17/12/2024 13:59

BENGALURU, Dec 17 (Reuters) - India's central bank on
Tuesday lifted restrictions on two Edelweiss Group companies
that barred them from acquiring financial assets or undertaking
structured transactions.
    The Reserve Bank of India in May had taken action on ECL
Finance and Edelweiss Asset Reconstruction Company saying that
they engaged in "evergreening" of distressed loans.

 (Reporting by Nishit Navin; Editing by Shailesh Kuber)
 ((Nishit.Navin@thomsonreuters.com;))