 "opium")
A stable banking system is an absolute necessity for maintaining financial stability. It is thus important that banks are properly regulated and do not take unnecessary risks. While the quality of lending in the banking system and the level of bad loans often attract public attention, it is also important for the regulator to keep a close eye on the investment portfolio. The Reserve Bank of India (RBI) on Tuesday in this context released revised investment norms for the banking sector. Our lead editorial notes that the new framework should be expected to improve disclosure and impart more stability to the banking system. Read here
In other views:
Former chief economic adviser to the government of India Shankar Acharya writes about how opium shaped India’s political and economic destiny, enriching some regions while impoverishing others. Read here
If India’s best and brightest still prefer employment with foreign corporations, whether in India or abroad, to maximise their highly prized skills honed in the very best of Indian institutions, India’s wealthiest are also increasingly cashing in their chips, writes Kanika Datta.
Commerce and Industry Minister Piyush Goyal
