RBI paper highlights vulnerabilities of India's highly interconnected financial system


A Reserve Bank of India (RBI) paper published on January 2 considers several policy measures to help mitigate the risks emanating from non-banking financial institutions in India.

The paper's author, A Karunagaran, says the global financial crisis has raised concerns about the high degree of financial interconnectedness in India. The author notes the rapid growth of non-banking financial institutions, in particular, plays a key role in maintaining a broad-based sound financial system in India.


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