RBI committee suggests allowing companies to take large stakes in banks

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The Reserve Bank of India task force recommended that large industrial houses be allowed to be promoters of banks, meaning they can take large stakes, which the central bank strongly opposed in the past.

The committee of the task force, formed in June to review the ownership guidelines and corporate structure of India’s private sector banks, released its report on Friday, November 20.

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“Large corporations / industrial enterprises can only be allowed to promote banks after the necessary changes to the 1949 Banking Regulation Act,” the committee suggested.

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