Srei promoter challenges RBI action against group firms in Bombay High Court
The banking regulator had on Monday superseded the boards of directors of Kolkata-based Srei Infrastructure Finance and Srei Equipment Finance citing governance concerns and defaults, and said it will initiate insolvency proceedings against the two firms with the National Company Law Tribunal (NCLT).
Insurers can maintain current accounts in appropriate number of banks: IrdaiThe central bank in its August 2020 circular instructed banks not to open current accounts for customers who have availed of credit facilities in the form of cash credit (CC) / overdraft (OD) from the banking system.
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