RBI enforces business restrictions on Edelweiss Group entities
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The Reserve Bank of India (RBI) has imposed strict business restrictions on two Edelweiss Group entitities, namely ECL Finance Limited (ECL) and Edelweiss Asset Reconstruction Company Limited (EARCL). This regulatory action is an answer to supervisory concerns identified during recent examinations, as per an RBI release. The central bank invoked its authority under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), and the Reserve Bank of India Act, 1934.