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RBI keeps big business houses out of banking

Reserve Bank of India has not accepted a proposal to consider large corporates or industrial houses for a banking licence. It has however allowed promoters of banks to hold up to 26% in their banks, which is a positive for many lenders including Kotak Mahindra Bank, IndusInd Bank, Bandhan Bank and CSB Bank. The new norms allow those who have already diluted stakes to hike their shareholding.

Reserve Bank of India has not accepted a proposal to consider large corporates or industrial houses for a banking licence. It has however allowed promoters of banks to hold up to 26% in their banks, which is a positive for many lenders including Kotak Mahindra Bank, IndusInd Bank, Bandhan Bank and CSB Bank. The new norms allow those who have already diluted stakes to hike their shareholding. from Times of India https://ift.tt/3CVPLDr
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