The Nirav Modi case has once again cast the spotlight on the dark corners of the Indian banking universe. Illustration: Jayachandran/MintThe Nirav Modi case has once again cast the spotlight on the dark corners of the Indian banking universe. For now, the RBI has done well to constitute an expert committee to look into the rising incidence of frauds, among other things, in the banking system. India needs a safe and efficient banking system to service the needs of a growing economy. The government and RBI would do well to use the current opportunity to strengthen the banking system.

Source: Mint February 22, 2018 02:03 UTC