India’s central bank proposes tighter regulations for large shadow lenders to prevent events such as the collapse of a major financier in 2018, the effects of which still linger in the nation’s financial system. The Reserve Bank of India suggests classifying so-called non-bank financial companies into four categories based on parameters including the size of assets, according to a discussion paper released on Friday. It proposes imposing a 9% core capital requirement on the top tier – just like banks – and they will be allowed to take on only limited leverage. Other key proposals: n All shadow banks classify credit as non-performing assets that are 90 days overdue, down from 180 days curren
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