IL&FS crisis may lead to cancellation of licenses of 1,500 NBFCs

In the wake of the IL&FS crisis, as many as 1,500 smaller non-banking finance companies may have their licenses cancelled because they don’t have adequate capital. The shadow banking sector now comprises more than 11,400 firms with a combined balance-sheet worth Rs 22.1 lakh crore, and is less strictly regulated than banks.

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