‘Jury is still out’ on industrial houses in banking: Dy Guv Rao

The issue of granting banking licenses to industrial houses is being widely debated in public after the banking regulator recently released an internal working group recently released a report on the subject which was silent on whether they should be allowed banking. "It is necessary that we closely examine the related matters before thinking of permitting large industrial houses or NBFCs owned by such houses to set up any new bank " said Rao at an event in Mumbai. " Let me just say that the jury is still out on the issue".

via Economictimes

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