India Monitoring for ‘Signs of Fragility’ Among Shadow Banks
- Reserve Bank Governor Shaktikanta Das speaks in interview
- Working to prevent another collapse of a large, important NBFC
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India is attempting to prevent any repeat of last year’s shadow banking crisis after detecting “signs of fragility” in some of the 50 housing finance and other non-bank lenders it is monitoring, according to central bank Governor Shaktikanta Das.
The Reserve Bank of India is working closely with the country’s lenders to prevent the collapse of another large systemically important non-bank finance company, Das said in one of his first media interviews since becoming governor in December. “It is our endeavor that there is no contagion,” Das said.