INSUBCONTINENT EXCLUSIVE:
The Reserve Bank of India should conduct an asset quality review of non-banking financial companies (NBFCs) as it did for banks in 2015 if
peddling as standard loans
It has also pushed up cost of funds and raised concerns over their business model itself.
NBFCs because of lighter than banking regulations
were nimble in raising funds from market and lending
In the process, they compromised on risk
They borrowed short term and lent long term.
In what is the biggest default in the financial services sector, ILFS, which has a debt of
