RBI Examines Standard Chartered Asset Sale Complaint
The RBI is examining a complaint against Standard Chartered Bank for alleged collusive asset disposals. A second complaint filed last month is under review.
The central bank of India is examining a formal complaint against Standard Chartered Bank regarding allegations of repeated collusive asset disposals. According to Pankaj Chaudhary, the junior finance minister, the lender is under scrutiny for reportedly selling assets at discounted values through collusive arrangements.
The Reserve Bank of India has received two complaints against the bank, the first in October 2024 and the second in February 2026. These complaints involve assets linked to three different developers. While the February 2026 complaint is currently being examined, a final order for the October 2024 case remains pending. In a written response to parliament, the minister noted that the sale of assets by a secured creditor is generally considered a commercial judgment of the entity involved.
The sale of asset by the secured creditor was a commercial judgment of the concerned entity.
No further details were provided in the minister's response regarding the specific developers or the valuation of the assets. Standard Chartered Bank India has not yet responded to requests for comment on the matter.
