How RBI Helped the Promoter of a Defaulting Power Company RattanIndia Power and Gave Him an NBFC Licence! - I
Abhinandan 07 March 2019
Would you be surprised if the Reserve Bank of India (RBI) grants a licence to Vijay Mallya for starting, or acquiring, a non-banking finance company (NBFC) today? Well don't be, if RBI’s track record is anything to go by. 
 
The NBFC business, by its very nature, depends on leverage. A typical NBFC is required to have a capital adequacy ratio of 15%. Even within that, it can have tier-1 capital...
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