RBI Takes Control: Aviom India Housing Finance Board Superseded Amid Governance Concerns
2025-01-27
Reuters
The Reserve Bank of India has taken drastic action against Aviom India Housing Finance, superseding its board due to serious governance concerns and failures to meet payment obligations. This move aims to protect the interests of stakeholders and maintain stability in the financial sector. With the Indian housing finance market undergoing significant changes, the RBI's decision is seen as a crucial step in ensuring regulatory compliance and preventing potential defaults. The supersession of the board will enable the RBI to closely monitor and rectify the issues plaguing Aviom India Housing Finance, ultimately benefiting the Indian economy. Key terms: RBI, governance concerns, housing finance
