Why Big Corporates Want To Own Banks | BOOM | Govindraj Ethiraj, Harsh Roongta, Ashvin Parekh | RBI
Why do companies really want to set up their own #banks? The #RBI proposal came under a lot of fire from Former RBI Gov Raghuram Rajan and Former Dy Gov Viral Acharya, who firmly disapproved of this move. What will this move lead to? #BOOM Explains. Ashvin Parekh, Managing Partner, Ashvin Parekh Advisory Services says that banking business in India is highly regulated. From the POV of returns for corporates is not as lucrative as people think it is. The RBI recommendations made by the RBI looks at very large size corporates, not mid sized ones. Harsh Roongta, CEO, Fee Only Investment Advisers LLP says that it is right to be wary of large retail customer facing conglomerates wanting to open their own banks. They can try to keep their risks within their balance sheets and extend credit to customers which is not ethical. Where will the regulators draw a distinction? Is there an arm's length distance between borrowers and promoters at the bank? Where does the due diligence end?
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