RBI asks banks to find alternative mechanism for Russia payments
At a high-powered meeting with select banks, the RBI sought suggestions from top executives on conducting payment settlements with Russian lenders in the current scenario, sources familiar with the development told ET. Bankers attending the meeting could not come up with an immediate solution, they said. The RBI did not respond to ET's queries. The US has put fresh sanctions on Russia's VTB Banking, snapping the lender's access to the global financial payments system.
Consultants, audit firms vie for Srei resolution pieSBI Capital Markets and BoB Capital Markets are locked in a tough battle to be a process advisor to the committee of creditors (CoC). This is a crucial role in the resolution process as it involves setting the rules, timelines and important decisions like evaluation of bids.
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