India s central bank today said it has decided to tighten connected lending regulations to avoid cases influential or persons in power can sway decisions on lending in favour of borrowers with close connections. Shaktikanta Das said the RBI will come out with a unified regulatory framework on connected lending.
The Reserve Bank of India (RBI) is tightening connected lending norms to address concerns related to persons in power who influence lending decisions having close connections with borrowers. RBI Governor Shaktikanta Das announced a unified regulatory framework on connected lending for all regulated entities to avoid gaps in regulation.
The court said the DHFL case had put Yes Bank through a lot of trouble, forcing the Reserve Bank of India to intervene, as it asked ED to expedite the trial
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