ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Siddharth ShuklaSubscribe to Siddharth Shukla

Bank-like Regulations for Non-banking Financial Companies

The purpose of this article is to address some of the lacunae in the scale-based framework proposed by the Reserve Bank of India in a discussion paper on non-banking financial companies that have turned a blind eye to the growth aspect and recognising only the stability by minimising the possibility of systemic risk. In this context, the introduction of pyramid-based structure of NBFCs is found to be lacking a common parameter for classification of companies in different layers. Further, the revision of threshold asset size limit for identifying systemically important non-deposit taking NBFCs from `500 crore to `1,000 crore is found be undervalued, which will result into making the smaller asset sized NBFCs subject to stricter prudential norms.

Cooperative or Coercive Federalism

The purpose of this article is to throw light on certain provisions of the Union Budget 2021–22 that have diluted the spirit of cooperative federalism in the country. These setbacks for the states will eventually push them at a subordinate position vis-à-vis central government, defeating the core...
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