2024 set to be eventful for North Block, RBI in pursuit of $5 trn goal

A bank licence for industrial houses looks unlikely; the IWG itself had referred to concerns over connected lending and exposure between banks and other financial and non-financial group entitie

Mint Road’s Internal Working Groups (IWGs) review of the extant ownership guidelines and corporate structure for private banks will be in the spotlight.
 

The IWG had on November 20, 2020, made a case for large corporate and industrial houses as promoters of banks. And that large non-banking financial companies (NBFCs) with an asset size of Rs 50,000 crore and above, including those owned by corporate houses, may be considered for conversion into banks.
 

So, are we to see forward movement on this front?
 

The Reserve Bank of India (RBI) while accepting 21 of the IWG’s 31 recommendations had said “the