39 billion as on March 31, 2009 to Rs.475 billion as on March 31, 2013. 10  BIS central bankers’ speeches  To study the issues related to the gold loans by NBFCs a working group was set up under the chairman ship of K.U.B. Rao which submitted its report in January 2013. Several recommendations have since been accepted and acted upon.
What does all that mean for the banks? In essence, regulators and supervisors are working towards strengthening the principles of a market economy. Naturally, this puts more weight on the shoulders of market participants, that is, the banks. In future, there will be no public lifeguard standing by to bail banks out when things go wrong.