Anand Sinha: Regulation of shadow banking – issues and challenges Address by Mr Anand Sinha, Deputy Governor of the Reserve Bank of India, at an event organized by the Indian Merchants’ Chamber, Mumbai, 7 January 2013. *  *  *  Inputs provided by Ms. Reena Banerjee, Ms Archana Mangalagiri, Ms Sindhu Pancholy, and Mr. Jayakumar Yarasi are gratefully acknowledged.
Mr. Hiranandani, President, Indian Merchants’ Chamber (IMC), Mr. Thakkar, Co-Chairman, Finance and Banking Committee, IMC, Mr. TT Srinivasaraghavan, Managing Director, Sundaram Finance Ltd., Mr. K V Srinivasan, CEO, Reliance Commercial Finance, Ms. Usha Thorat, my erstwhile colleague in the Reserve Bank, currently the Director, CAFRAL and the Chairperson of the Working Group that examined the issues and concerns in the Non Banking Financial Companies (NBFC) sector, and all other distinguished guests; It is a pleasure to be here among you in this seminar on NBFCs, to discuss the recent guidelines issued by us based on the recommendations of the Working Group on NBFCs chaired by Ms. Usha Thorat.