The central bank has barred Edelweiss Asset Reconstruction Ltd from acquiring any financial assets and ECL Finance from undertaking any structured transactions other than repayment or closure of accounts.
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The Indian government wants someone who toes its line in the RBI chair. The economy needs someone who can rise above being a yes-man.
The central bank, under Das, has gone from reactive to proactive regulation. With signs of stress resurfacing in the banking system, the need for a taskmaster like him at the helm is stronger than ever.
While SEBI has allowed domestic mutual funds to invest in overseas funds, the cap set by the RBI for such funds could defeat the purpose of the market regulator’s move.