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Oct 17, 2014
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RBI in talks with govt over a Financial Resolution Authority
Reserve Bank of India (RBI) Governor Raghuram Rajan has said the central bank is in talks with the Centre to set up a financial resolution authority (FRA).
“We really need a financial resolution authority so that we can close financial institutions in trouble, without necessarily merging those and taking the losses. We need to clean institutions…while resurrecting those functioning well. FRA will be the entity that will do it,” Rajan said in an hour-long interaction with students of the Indian School of Business here on Thursday.
Source -
http://www.business-standard.com
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