RBI asks non-bank lenders to appoint risk officers

VCCircle | May 17, 2019 at 9:38 AM
  • Indian shadow banks with more than 50 billion rupees ($714 million) in assets must appoint a chief risk officer, the central bank said on Thursday.
  • Dewan Housing Finance’s (DHFL) debt was also downgraded this year and PNB Housing Finance was put on credit watch by another rating agency CARE.
  • The shadow banking sector, which raises short-term funds through commercial paper, and lends for long-term purposes such as housing loans, may face an uphill task to redeem up to 1 trillion rupees that come due in the next 3-4 months.