By Andy Mukherjee
Is India opening the door for big businesses to take over its banking industry?
A working group set up by the Reserve Bank, the regulator, has suggestions for what to do with ownership of private-sector banks. Large industrial houses may be permitted to own controlling stakes, it says, but only after strengthening regulation and supervision to deal with the problem of “connected lending” — basically diverting depositors’ funds to their other busin ..
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https://economictimes.indiatimes.com/industry/banking/in-indias-post-covid-hunt-for-cash-banking-may-go-from-being-state-dominated-to-tycoon-led/articleshow/79362942.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst.......................ET