Government Considers More Powers For RBI To Regulate Shadow Banks

INSUBCONTINENT EXCLUSIVE:
Minister Nirmala Sitharaman informed Parliament on Monday.The government does not have any plans to infuse funds in privately-held shadow
banks, she said in a written reply."Government has received a proposal from RBI to strengthen RBI's regulatory and supervisory powers
under the Reserve Bank of India Act, 1934, and the same is under consideration," Ms Sitharaman said.The outlook on the shadow banking sector
has been bleak ever since the state-run Infrastructure Leasing - Financial Services defaulted on a series of debt obligation triggering
government to take over the control of the company.Get Breaking news, live coverage, and Latest News from India and around the world on
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