RBI is asking for a Financial Resolution Authority

Reserve Bank of India (RBI) is in talks with the Cen­tral govt to set up a finan­cial res­o­lu­tion author­i­ty (FRA).

“We real­ly need a finan­cial res­o­lu­tion author­i­ty so that we can close finan­cial insti­tu­tions in trou­ble, with­out nec­es­sar­i­ly merg­ing those and tak­ing the loss­es. We need to clean institutions…while res­ur­rect­ing those func­tion­ing well. FRA will be the enti­ty that will do it,” –RBI Governor