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India needs 10 more banks. Why should insurance companies invest in companies below AA rating?
“Many of the smaller and midcap NBFCs, who have net worth of less than Rs 1,000 crore, will find it tough to go out to a bond market. They have to go to the banking system. Are we trying to make the banking system more efficient or are we going to make the banking system more lazy by having a lesser number of banks?”