Chits are not Cheats

Blame the RBI for the repressed formal financial sector, making room for Saradhas to flourish

 ..........The relationship between the regulated and the unregulated parts of finance is not that between night and day, where the one is the obverse of the other. The RBI’s regulation is more like a tourniquet tied too long: it staunches the bleeding, all right, but it also cuts off blood supply to another part of the body, killing tissue and nerve.........

Read - ET