India’s central bank Governor Shaktikanta Das warned banks to undertake stress tests and said all forms of “exuberance” should be avoided, days after imposing curbs on some lending. “At the current juncture, there may not be any cause for worry,” Das said Wednesday at an annual conference in Mumbai hosted by industry and banking lobby groups. But banks and non-bank financial companies “would be well advised to take certain precautionary measures,” he said. The Reserve Bank of India last week clamped down on unsecured lending by lenders and shadow banks to curb financial stability risks. The moves prompted a selloff ... (full story)