Subbarao criticises plans to expand powers of regulatory supergroup


Duvvuri Subbarao, the Reserve Bank of India's (RBI) governor, yesterday questioned proposals that would see the country's Financial Stability and Development Council (FSDC) - something of a supergroup of India's existing regulators - gain executive power over the management of systemic risk.

Subbarao told an audience in Mumbai that giving the council responsibility for safeguarding systemic risk "runs counter to the post-crisis trend around the world" of limiting "collegial bodies" to co

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