RBI wants new law to better regulate financial companies

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The Reserve Bank of India has called on all financial firms to adopt a financial holding company structure as part of an overhaul of financial regulation.

In a report released on Monday by a working group led by Shyamala Gopinath, the central bank's deputy governor, the Reserve Bank recommended a financial holding company model "should be pursued as a preferred model for the financial sector in India". The report said the model could "be extended to all large financial groups, irrespective of

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