RBI constitutes Internal Working Group to review extant ownership guidelines for Indian private sector banks

Reserve Bank of India (RBI) has constituted an Internal Working Group to review extant guidelines on ownership and corporate structure for Indian private sector banks, the apex bank said.

Reserve Bank of India (RBI) has constituted an Internal Working Group to review extant guidelines on ownership and corporate structure for Indian private sector banks, the apex bank said. Reserve Bank constitutes an Internal Working Group to review extant ownership guidelines and corporate structure for Indian private sector banks

The review will provide an opportunity to the harmonise norms applicable to banks set up at diff time periods, irrespective of the date of commencement of business, RBI informed. In a release, RBI stated, "as the macroeconomic, financial market and technological developments continue to influence the future of banking and transform how the entire banking industry operates, it is felt necessary to align regulations to meet the requirements of a dynamic banking landscape."

Accordingly, the Internal Working Group will examine and review the extant licensing and regulatory guidelines relating to ownership and control, promoters' holding, the requirement of dilution, control and voting rights, etc. (ANI)