Central Bank of India takes over the troubled lender

The Central bank of India has taken over Dewan Housing Finance, the leading real estate lender that is currently setting up a very significant test of the insolvency code of the country as a prolonged credit crunch which is racking the financial system of the country.

On Wednesday, The Reserve Bank of India said that it had made the move due to concerns regarding governance and the inability of DHFL for meeting payment obligations. T....