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ARTICLE · 05 APRIL 2024

AKP Banking & Finance Digest- April 01, 2024

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The Reserve Bank of India ("RBI"), through its circular dated March 27, 2024, has relaxed the norms governing investment by Regulated Entities...

IndiaFinance and Banking
Anuroop Omkar
Anuroop Omkar

1. Regulatory Updates

1.1. India

1.1.1. RBI relaxes norms for investment in AlFs by regulated entities

The Reserve Bank of India ("RBI"), through its circular dated March 27, 2024, has relaxed the norms governing investment by Regulated Entities ("REs") in Alternative Investment Funds ("AIFs"). Previously, through the circular dated December 19, 2023 ("Circular"), RBI directed REs not to invest in any scheme of AIFs which has a direct or indirect downstream investment in a company to which RE has previously provided the loan. The Circular further provided a 30 (thirty) days' timeline for REs who have already invested in such AIFs to either liquidate their investment or make 100 percent (one hundred percent) provisions on such investments. The recent circular, while relaxing the previous stringent provisions, has stated that the above-mentioned 100 percent (one hundred percent) provisioning shall only be required to the extent of the RE's investment in the AIF

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