India's apex bank acts against two Edelweiss Group companies for 'evergreening' loans

India's apex bank acts against two Edelweiss Group companies for 'evergreening' loans

FILE PHOTO: A worker walks past the logo of Reserve Bank of India (RBI) inside its office in New Delhi, India July 8, 2019. REUTERS/Anushree Fadnavis/File Photo

India’s central bank on Wednesday barred two Edelweiss Group companies from acquiring financial assets or undertaking structured transactions, saying they engaged in “evergreening” distressed loans.