 "Liquidity management tool: RBI may have to balance old norms with the new")
India announced measures to strengthen oversight of the country’s shadow banks and improve their access to funding by providing guarantees for purchases of their assets.
The Reserve Bank of India will now be the regulator of housing finance firms, replacing the National Housing Bank, Finance Minister Nirmala Sitharaman said during her budget speech on Friday.
The government will also provide a one-time partial credit guarantee for loan losses to state banks that buy as much as 1 trillion rupees ($14.6 billion) of high-rated pooled assets of non-banking finance companies, Sitharaman said.
The decision follows concerns that a
The Reserve Bank of India will now be the regulator of housing finance firms, replacing the National Housing Bank, Finance Minister Nirmala Sitharaman said during her budget speech on Friday.
The government will also provide a one-time partial credit guarantee for loan losses to state banks that buy as much as 1 trillion rupees ($14.6 billion) of high-rated pooled assets of non-banking finance companies, Sitharaman said.
The decision follows concerns that a
