How RBI Helped the Promoter of a Defaulting Power Company RattanIndia Power and Gave Him an NBFC Licence! – II
Abhinandan 13 March 2019
In the first part of the article, we discussed how the promoter of a bankrupt company RattanIndia Power managed to get a licence to start a non-banking finance company (NBFC) from the Reserve Bank of India (RBI). The question any reader would ask is: What was RBI doing when the promoters of a bankrupt company, owing thousands of crores of rupees to banks, come to ask for a licence to start an...
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