Fraud Tag

Business

Religare Finvest Gets Clean Slate: SBI Officially Clears ‘Fraud’ Label

The State Bank of India (SBI) has officially removed the ‘fraud’ designation from Religare Finvest Ltd (RFL) as per a Delhi High Court order, allowing the non-bank financier to potentially resume lending. RFL awaits the lifting of a corrective action plan. The move signifies efforts to revive RFL after fraud by its former promoters. In March 2023, RFL settled with…