In a system where risk is concentrated in a handful of large institutions, the case for regulating thousands of small, non-systemic entities is not obvious.
Over 4,000 NBFC regulatory updates are published by more than 2,000 websites every year. This makes it impossible for a compliance officer to keep track.
The professional man, the businessman in a free economy, the landed peasant, the artisan and the self-employed man stand on their own legs and can disagree with the government.
The rupee’s fall to record lows amid rising energy-import costs and capital outflows is raising expectations that RBI Governor Sanjay Malhotra may be forced to abandon his pause and hike rates.
Historically, and instinctively, India has seen threats emerging from the west and the north, from Pakistan and China. The east has received less attention.
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