View: The RBI needs to cut the Gordian knot that threatens financial stability in India
At the heart of Reserve Bank of India’s (RBI) discussion paper, ‘ Revised Regulatory Framework for NBFCs’, released last Friday, is its concern that the problems of non-banking financial companies (NBFCs) should not result in systemic risk and endanger financial stability. Not only because financial instability can threaten economic stability (as seen after the Lehman … Read more