Even as a debate is raging over the wisdom of allowing industrial and business houses to apply for new bank licences, the Executive Director of the Reserve Bank of India, B. Mahapatra, asserted that the apex bank would have to be extra vigilant in the evolving context. In his inaugural address at the National Institute of Bank Management Conclave on ‘Implications of new bank licences’ in Pune on Saturday, he said the regulatory and supervisory effectiveness of the RBI would be tested in preventing the new banks promoted by industrial and business houses from self-dealing..........
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