RBI examining complaint against Standard Chartered Bank's asset sales, minister says

Mar 10, 2026

Synopsis
RBI is investigating Standard Chartered Bank as a complaint alleges repeated instances of selling assets at a discounted value. The Reserve Bank of India received two complaints related to three developers. One complaint is under examination. A final order for the other complaint is pending. The sale of assets was a commercial judgment.

Reserve Bank of India (RBI) is examining a complaint received against Standard Chartered Bank for "repeated instances of collusive asset disposals at a ‌discounted ⁠value", ⁠India's junior finance minister Pankaj Chaudhary told lawmakers on Tuesday.

India's central bank has received two complaints against the lender in ​October 2024 and ⁠February 2026, ‌related to assets ​linked ​to three developers, according ⁠to a written reply to parliament.

The ​complaint received in February ​2026 is under examination, he said.

A final order in the complaint received in October 2024 is pending, the minister ‌said. "The sale of asset by the secured creditor ​was a ​commercial ⁠judgment of the concerned entity," he said.

The minister's written response did not ​share further details.

Standard Chartered Bank India did not immediately respond to an email seeking comment.

[The Economic Times]