The Reserve Bank of India (RBI) on Wednesday (May 29) imposed restrictions on ECL Finance Limited (ECL) and Edelweiss Asset Reconstruction Company Limited (EARCL) with immediate effect. The RBI has taken this action in exercise of its powers under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the Reserve Bank of India Act, 1934. Let us tell you that both are part of the Edelweiss Group.
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