Opinion
RBI regulation is ‘Unpredictable’ only when it should be
Summary
- The Reserve Bank uses a rigorous process before taking hard regulatory calls, engaging in a two-way dialogue with regulated entities (REs). Its rulebook adherence is predictable, but penalties that surprise could act as effective deterrents.
The latest salvo from the Reserve Bank of India (RBI) was its supervisory action against two Edelweiss group entities, including an asset reconstruction company, after its scrutiny found areas of concern. The belief that a financial regulator like RBI should be passive is mistaken.
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