SBI downgrade reveals RBI's failure as a bank supervisor

A downgrade of SBI bonds due to the poor asset quality of the bank should remind us of the need for better regulation of the banking sector. India has been thumping itself on its back for the banking sector escaping the global banking and financial crisis because of the good job that the bank supervisor did. In this story, we fail to remember the basic flaws of the Indian banking and financial system.

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