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flag Deputy Governor of India's central bank urges NBFCs to boost risk management and oversight.

flag The Reserve Bank of India's Deputy Governor, Swaminathan J, urged non-bank financial companies (NBFCs) to improve risk management and board oversight to prevent financial vulnerabilities during market stress. flag He emphasized the need for robust internal controls and warned against exploiting customers under the guise of financial inclusion. flag This comes after IndusInd Bank reported a decline in net worth due to irregularities, raising concerns about governance in the sector.

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