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“Consolidated supervision” clause may deter corporate houses to seek bank license

“Consolidated supervision” clause may deter corporate houses to seek bank license
“Consolidated supervision” clause may deter corporate houses to seek bank license

Synopsis

A central bank internal working group (IWG) has recommended the Reserve Bank of India (RBI) prepare a road-map for strengthening the supervisory mechanism at large conglomerates, and the provisions could include “consolidated supervision,” beyond Mint Road’s traditional bailiwick of banking.

MUMBAI: Mint Road may finally be ditching the sieve of socialism while choosing a new set of owners for high-street banks of the future, but Corporate India’s biggest - and the keenest - would now be going through the proposals with a fine-tooth comb. Some pre-conditions, as they stand today, might deter the prospective candidates.A central bank internal working group (IWG) has recommended the Reserve Bank of India (RBI) prepare a road-map for
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