Explained: Why RBI has kept entry of big businesses in banking on hold for now - The Indian Express
Corporate houses were active in the banking sector till five decades ago when the banks promoted by them were nationalised in the late sixties amid allegations of connected lending and misuse of depositors’ money.
The Reserve Bank of India (RBI) has kept in limbo the proposal of its Internal Working Group (IWG) for granting banking licence to big corporate houses amid fears over connected lending and self-deal… [+3862 chars]
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