Finance & economics | Indian finance

Death sentence

|MUMBAI

IF THE Asian crisis proves that a financial system is only as strong as its weakest link, the finance-company sector has to be that link in India. Ever since the collapse of a large finance company, CRB Capital Markets, in April last year, these firms have been lurching towards a painful conclusion. Now, the Indian central bank has unsheathed a new regulatory regime which many fear will deal the death blow to all but a handful of the 40,000-odd companies. That is long overdue.

This article appeared in the Finance & economics section of the print edition under the headline “Death sentence”

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