........... It would be difficult to deny them entry into banking, while allowing someone who has no comparable experience to set up a bank. But have the concerns about related party transactions gone away? Certainly not. If corporate entry is inevitable, the only way to allay such concerns is for the RBI to ensure that its supervisory capabilities are up to the task of preventing such practices. The recent revelations about widespread violations of know your customer (KYC) norms by some banks certainly raise some questions about supervisory effectiveness. The RBI must make explicit how it plans to restructure its internal systems and resources to be able to deal with these new challenges...................
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