MUMBAI (Reuters) – India’s central bank on Wednesday issued an advisory for banks relating to their investments in alternative investment funds (AIFs).
Banks need to only set aside provisions to the extent of their investment in the AIF scheme which is further invested by the AIF in the debtor company, and not on the lender’s entire investment in the AIF scheme, the central bank said in a release.
(Reporting by Siddhi Nayak; Editing by Savio D’Souza)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.