Kerala: KTDFC unable to give back Ramakrishna Mission's FD worth Rs 130 crores after maturity, RBI to cancel license

Kerala: KTDFC unable to give back Ramakrishna Mission's FD worth Rs 130 crores after maturity, RBI to cancel license

KTDFC, the Kerala Transport Development Finance Corporation, had secured a fixed investment of Rs 130 crore from the Kolkata-based Sri Ramakrishna Mission. However, despite the maturity deadline passing, KTDFC has been unable to repay the amount, as per reports. In response to this, the Reserve Bank of India (RBI) has conveyed its intention to revoke KTDFC’s non-banking license. This is communicated to the Kerala state government through a speci…