Lack of data led to IL&FS crisis: Economic Affairs Secy
Economic Affairs Secretary Subhash Chandra Garg has said the lack of real-time data has led to the ongoing crisis at IL&FS and other Non-Banking Financial Companies (NBFCs). There are many gaps in regulation, data collection and information management in the NBFCs sector, he added. Garg further said the government is trying to work with RBI towards better management of NBFCs.