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edelweiss financial share price: Edelweiss Financial Services shares fall 17% post RBI action on 2 companies

May 30, 2024 by Scott Martin

Shares of Edelweiss Financial Services fell by 17% on BSE to the day’s low of Rs 64 after the Reserve Bank of India (RBI) directed the company to cease and desist from acquiring financial assets. “The action is based on material concerns observed during the course of supervisory examinations, essentially arising out of the conduct … Read more

RBI puts curbs on 2 Edelweiss companies

May 30, 2024 by Scott Martin

MUMBAI: The RBI has placed restrictions on two companies of the Edelweiss group – ECL Finance and Edelweiss Asset Reconstruction Company (EARCL) – over ‘evergreening‘ stressed loans.Evergreening of loans is the practice where lenders extend additional credit to borrowers who cannot repay their existing loans. ECL Finance offers corporate finance, loans against property and securities, … Read more