Reliance Capital collapses as RBI heads it to bankruptcy tribunal

Delhi -The Shadow banking industry has claimed its biggest casualty yet since 2018’s loss of confidence in the market. On Monday evening, the Reserve Bank of India (RBI) made a surprise announcement that it had replaced the board of Reliance Capital, the financier controlled by Anil Ambani, and would be sending the company to bankruptcy tribunal. The collapse of Reliance Capital Ltd is a perfect example that explains why the central bank is reluctant, rather hates the presence of big conglomerates in the banking sector. This is despite the fact that the inclusion of corporate capital into the sector canDelhi -The Shadow banking industry has claimed its biggest casualty yet since 2018’s loss of confidence in the market. On Monday evening, the Reserve Bank of India (RBI) made a surprise announcement that it had replaced the board of Reliance Capital, the financier controlled by Anil Ambani, and would be sending the company to bankruptcy tribunal. The collapse of Reliance Capital Ltd is a perfect example that explains why the central bank is reluctant, rather hates the presence of big conglomerates in the banking sector. This is despite the fact that the inclusion of corporate capital into the sector can […]