Corporate News November 2020 - Acquisory Bulletin

Chandni Ansari12 Feb, 2025Business

RBI Committee Recommends Corporate Ownership Of Private Sector Banks In India: Risks far outweigh benefits “Large corporate/industrial houses may be permitted to promote banks only after necessary amendments to the Banking RegulationAct, 1949” – IWG Report on Corporate Ownership of Private Sector Banks. On November 20, the RBI released the Internal Working Group (IWG) report that reviewed the existing licensing and regulatory guidelines relating to ownership, control, and corporate structure of private sector banks in India. The IWG examined existing guidelines within a larger context of meeting the credit demands of a growing economy; nurturing greater competition in the domestic banking