1.Regulatory Updates
1.1. India
1.1.1. RBI lifts restrictions on Edelweiss
Entities
The Reserve Bank of India ("RBI")
imposed business restrictions on ECL Finance Ltd and Edelweiss
Asset Reconstruction Company Ltd under the Reserve Bank of India
Act, 1934, and SARFAESI Act, 2002. ECL Finance was directed to
cease structured transactions in wholesale exposures, while
Edelweiss Asset Reconstruction had to halt acquiring financial
assets. After addressing RBI's concerns and implementing
corrective measures, RBI has lifted these restrictions immediately.
RBI
1.1.2. RBI cancels registration of four
NBFCs
RBI, under section 45-IA (6) of the Reserve Bank of India Act,
1934, has cancelled the Certificates of Registration (CoR) for four
companies. These include Marwah Finance Pvt Ltd, PVP Capital
Limited, Rain Bow Finance India Ltd, and Ram Alloy Castings Private
Limited. As a result, these companies are no longer permitted to
conduct business as Non-Banking
