Reserve Bank of India had constituted an Internal Working Group (IWG) on June 12, 2020 to review extant ownership guidelines and corporate structure for Indian private sector banks. ON Nov 20 2020, the RBI’s IWG panel in its report has suggested major recommendations including raising of cap on promoter stake in private banks, giving bank licences to large corporate/industrial house, Conversion of large NBFCs into Banks e.t.c.Reserve Bank of India had constituted an Internal Working Group (IWG) on June 12, 2020 to review extant ownership guidelines and corporate structure for Indian private sector banks. ON Nov 20 2020, the RBI’s IWG panel in its report has suggested major recommendations including raising of cap on promoter stake in private banks, giving bank licences to large corporate/industrial house, Conversion of large NBFCs into Banks e.t.c.taxmann.com Latest Statutory HappeningsRead More
