By CNBC-TV18 Jun 12, 2019 7:59:49 AM IST (Published)
The Serious Fraud Investigation Office (SFIO) suspects that a senior Reserve Bank of India officer may have had a role to play in IL&FS Financial Services (IFIN) violating key regulatory norms, The Times of India reported.
The Serious Fraud Investigation Office (SFIO) suspects that a senior Reserve Bank of India officer may have had a role to play in IL&FS Financial Services (IFIN) violating key regulatory norms, The Times of India reported.
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The agency suggested the central bank launch an internal investigation on the issues linked to IFIN to probe how its mechanisms failed to act in time, the report said citing unnamed sources.
As per the report, the SFIO found information that former IFIN CEO Ramesh Bawa may have had links with the senior RBI official.
Sources added that Bawa allegedly used this contact to get favourable decisions on regulatory issues, said the report.
The RBI did not respond to a query sent by The Times of India.
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