RBI turns up heat on NBFCs and the race for Neelachal Ispat

While RBI’s PCA framework for NBFCs puts the spotlight on some big names, steelmakers queue up for a loss-making public sector unit.

Advait here. After banks, the Reserve Bank of India has now turned its attention to non-banking financial companies, or NBFCs, and has set a deadline for them to take corrective action. Some big names in the non-bank lending space are already sweating. But is this a backward-looking exercise? Separately, a question is being raised as the race for Neelachal Ispat Nigam heats up. Why are steelmakers desperate to buy a loss-making, state-owned entity? Read on. 

Big NBFCs told to clean up

NBFCs are in for tough times. On Tuesday, the Reserve Bank of India came out with a prompt corrective …

Author

Prince M. Thomas

Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.

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prince@mailtmc.com

Mumbai

Author

Advait Palepu

Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.

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advait@mailtmc.com

Mumbai