Economic affairs secretary
Subhash Chandra Garg has said that the lack of timely data is responsible for
the current crisis in the shadow banking sector. He called for sound
regulations to help develop the sector. The secretary said that the government
is trying to work with the Reserve Bank (of India) to create a system for more
information about the NBFC sector. The NBFC sector is going through
a crisis, particularly related to liquidity, following the liquidity crisis in
NBFC major IL&FS since August last year. Post IL&FS crisis, other
large NBFCs such as DHFL and Indiabulls had tough times that led to a huge drop
in their stock prices.
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Garg favours better regulations for NBFCs
By IndianMandarins - 2019-01-06 09:54:10
Economic affairs secretary
Subhash Chandra Garg has said that the lack of timely data is responsible for
the current crisis in the shadow banking sector. He called for sound
regulations to help develop the sector.
The secretary said that the government is trying to work with the Reserve Bank (of India) to create a system for more information about the NBFC sector.
The NBFC sector is going through a crisis, particularly related to liquidity, following the liquidity crisis in NBFC major IL&FS since August last year.
Post IL&FS crisis, other large NBFCs such as DHFL and Indiabulls had tough times that led to a huge drop in their stock prices.
