It would be better instead to restore regulatory and market discipline. These, and other structural reforms to the banking sector, would enable India to grow sustainably at respectable rates. Thank you.
1 It is to be noted here that the FSAP also mentions in Other Regulation, Accounting, and Disclosure (CPs 20, 26–  29, Para 62, page 21): Currently, the external auditor is not obliged to report immediately to the RBI regulator any issues encountered in the audited bank that are of material interest to the supervisor.