Printer Friendly

-SBI urges single regulator for home loans.

Global Banking News-May 20, 2013--SBI urges single regulator for home loans(C)2013 ENPublishing -

Global Banking News - 20 May 2013

State Bank of India (NSE: SBI) has suggested that a single regulator oversee home loans in the nation.

The bank's chairman, Pratip Chaudhuri, said that a single regulator would help remove the regulatory arbitrage currently existing between banks and housing finance companies. Currently, there are separate regulators.

The chairman said, 'I see no justification for having separate regulators for home loans. Perhaps, the objective would be better served with RBI itself becoming the sole regulator for all loans, including home loans. In no other country do we have different regulators for different verticals such as industrial loans, home loans and vehicle loans. Having more than one regulator for similar activities sometimes leads to conflict of interest and gives rise to certain regulatory arbitrage.'

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:May 20, 2013
Previous Article:-UAE central bank to make changes to rules governing exchange houses.
Next Article:-BMO asked to correct lapses.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters