Without wanting to be exhaustive, I shall then highlight a few challenges which the ECB - and, more generally, the international official community - may be confronted with. In this context, I shall outline the ECB’s assessment of a more specific issue, namely the issue of private sector involvement in the resolution of financial crises. 1.
Over the period the regulation for the NBFCs has been modified and made in conformity with the banks. Thus, because of history of regulatory best practices, shadow banking has not posed any problem for the financial sector in India. Sector Specific Refinance Facilities 17.