RBI PANEL RECOMMENDS LARGE NBFCS, WITH ASSET SIZE OF 500B RUPEES & ABOVE MAY BE CONSIDERED FOR CONVERSION INTO BANKS AFTER 10 YRS OF OPS

RBI releases the Report of the Internal Working Group to Review Extant Ownership Guidelines and Corporate Structure for Indian Private Sector Banks

The 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. The Terms of Reference of the IWG inter alia included review of the eligibility criteria for individuals/ entities to apply for banking license; examination of preferred corporate structure for banks and harmonisation of norms in this regard; and, review of norms for long-term shareholding in banks by the promoters and other shareholders.

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