NEW DELHI: India’s central bank is likely to propose tightening rules on “shadow banks” in a bid to strengthen solvency and sustainability of a sector that has been showing signs of stress in recent years, two sources said.
The Reserve Bank of India (RBI) has been trying to tighten regulatory norms on the sector since Infrastructure Leasing & Financial Services, the largest non-bank financial company, went bankrupt in 2018, and Dewan Housing Finance Corp and Altico Capital defaulted on payments in 2019.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
