Tenuous Comfort
In fact, the issue today extends beyond bank deposits. In the context of progressive de-regulation, RBI certification enables non bank finance companies to pay alluring rates of interest on deposits. This raises other questions, as well. For example, should the deposit insurance system be extended to NBFCs as is done in the UK?
Says G C Garg, president, Lloyds Finance:
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First Published: Oct 10 1996 | 12:00 AM IST