RBI launches investigation into shadow banks


The Reserve Bank of India on Monday announced the formation of a working group into the regulation of non-banking financial corporations.

The primary focus of the group, which will operate under the stewardship of Usha Thorat, a deputy governor at the central bank, will be on the definition and classification of non-banks, addressing regulatory gaps and regulatory arbitrage, maintaining standards of governance in the sector and determining the appropriate approach to its supervision.

The Reserve

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