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From Subsidiary to Shadow Bank: How RBI’s 2025 Directions Eliminate the Bank-Group NBFC Model
The Amendment functions as a structural foreclosure, rendering the bank-affiliated NBFC model economically obsolete. The regulatory signal is clear: diversification is viewed as arbitrage, and the era of the homogenized universal bank has returned.
Faraz Ahmad, Mantasha Khan
4 days ago6 min read
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