Srei founder urges RBI governor to advise banks not to act on KPMG report

Even though Kanoria had moved the court challenging the report, he has appealed to Reserve Bank of India (RBI) governor Shaktikanta Das to advise regulatory officials and banks “not to give effect or any precedence and/or take any action in respect of the said report…” According to banking circles, if the court, which is expected to give its ruling soon, rejects Kanoria’s plea, the banks may label Srei firms as ‘fraud’ accounts — a possible move that could put Kanoria and the erstwhile management under the lens.

from Banking/Finance-Industry-Economic Times https://ift.tt/EMYuntH