When it comes to bank loan defaults, the Reserve Bank of India’s (RBI’s) views seem to swing from one extreme to another, like a pendulum. It started in 2016 with RBI requiring strict classification of non-performing assets (NPAs) and fraud accounts.
Between December 2018 and July 2019, SEBI had received complaints against Mokashi alleging that he was interfering in the rating process at Care and granting AAA ratings to clients paying higher fees.
Get latest articles and stories on Latest News at LatestLY. Sebi on Thursday barred former CARE Ratings MD and CEO Rajesh Mokashi from associating with any registered intermediary for two years in a case pertaining to interference in the rating process of the rating firm in instruments issued by Dewan Housing Finance Ltd (DHFL). Latest News | Sebi Bans CARE Ratings Ex-CEO Mokashi from Associating with Registered Intermediary for 2-yr.
GUVNL also stated that the Trust invested an additional Rs 173 crore from its corpus in Punjab State Industrial Development Corporation Ltd, Punjab Finance Corporation Ltd, Reliance Capital Ltd, Reliance Home Finance Ltd and Dewan Housing Finance Ltd.