Narrow banking not the answer: RBI’s Subbarao


Narrow banking is a backwards proposal, said Duvvuri Subbarao, the governor of the Reserve Bank of India, in an assertive speech on Wednesday.

"There have of course been problems in the way banking evolved around the world - problems that were at the heart of the crisis. But the answer is not to adopt Luddite solutions that take us back decades," he said.

In a controversial speech in October, Mervyn King, the governor of the Bank of England, called for banks to be broken up according to their re

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