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Everyone was willfully blind to the NBFC mess. The financial ecosystem is now paying the price

Updated : October 30, 2018 10:21 AM IST

It’s ironical that just months ago, NBFCs were the darlings of the capital markets.
A recent RBI report devoted 20 pages to analysing how banks can impact financial stability, and barely one-and-a-half pages to NBFCs.
We will get out of the current situation – notwithstanding the now public spat between regulators and the government.
Everyone was willfully blind to the NBFC mess. The financial ecosystem is now paying the price
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