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RBI panel says allow corporates to set up banks: report

Nov 21, 2020 10:54 IST

An internal committee of the Reserve Bank of India has suggested that large corporate and industrial houses should be allowed to float banks in India, The Times of India has reported. The panel has also proposed suitable amendments to the Banking Regulation Act to prevent concentration of risks and unabated lending among group companies. The RBI committee has also recommended that after 15 years, promoters should be allowed to hold up to 26%, instead of the current cap of 15%, the report added.

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