Supreme Court ruling allows criminal complaints against Deloitte Haskins & Sells and BSR & Associates over their handling of IL&FS audits to proceed.
May 7, 2023PK Halder has been on the run since 2019 after allegedly defrauding multiple NBFIs in Bangladesh of more than $280,000.
May 23, 2022In December, SEBI issued INR 2.5 million penalty orders against ICRA, India Ratings & Research and Care Ratings. This has been raised to INR 10 million.
September 27, 2020Three rating agencies were fined for failing to recognise and quickly respond to deteriorating financial conditions at IL&FS, whose defaults last September triggered a liquidity crisis.
December 31, 2019The framework will serve as an interim mechanism to deal with any urgent situation at systemically important NBFCs, pending the introduction of a full resolution framework.
November 20, 2019The task force recommends easing rules for loan asset securitisation, and to allow secondary market participation from funds and insurers.
September 5, 2019The move follows a spate of defaults in India where credit rating agencies were blamed for being unable to flag potential credit risks.
August 23, 2019NBFCs can use overseas borrowings to fund working capital, repay rupee loans, and on-lend to domestic customers. Banks can also sell distressed loans to eligible overseas lenders.
August 1, 2019RBI governor Shaktikanta Das asked state-owned banks to speed up bad debt recovery efforts, strengthen internal controls and risk monitoring, and help fix the ongoing NBFC liquidity crisis.
July 23, 2019Under the proposal, auditors will be required to finalise their audit reports and make detailed disclosures regarding their reasons for resignation from listed companies.
July 22, 2019