Non-banks should be intelligent about risk – RBI deputy governor
Swaminathan advises caution as he hails sector’s rise in credit market
Non-banking financial companies (NBFCs) in India should be “intelligent” about risk-taking, the central bank’s deputy governor has warned.
In a speech on March 28 at a conference of NBFCs, published by the Reserve Bank of India on April 10, Swaminathan Janakiraman said the sector had emerged as important sources of credit in the country and hailed its growth as a “story of entrepreneurial energy, innovation and social impact”.
However, he also emphasised that non-banks’ business models carried
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