Roads articles

RBI says govt steps will stabilise IL&FS, hints at tightening NBFC norms

The Reserve Bank Friday termed the government’s move to supersede the board of Infrastructure Leasing and Financial Services (IL&FS) as “timely and appropriate” which has “helped stabilise the situation” and indicated that it will engage with the new management if necessary. The central bank also hinted that it’s looking at tightening the guidelines to avoid