RBI Modifies Norms for Investment in AIFs
On 27th March, 2024, the Reserve Bank of India (RBI) modified the norms for investment of banks, non-banking financial companies and other lenders in Alternative Investment Funds (AIF).
- This move comes after the RBI’s directive in December, 2023, which prohibited banks, NBFCs, and other lenders from investing in any AIF scheme that had downstream investments in a debtor company. (Downstream investments refer to the actual investment made by an AIF in a company using the funds raised from AIF investors.)
What are the Modified Norms?
- With a view to ensuring uniformity in implementation among the REs (regulated entities), it is advised ....
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