.............Do all these mean RBI should not give any importance to the IMF report? Definitely not. One way of ensuring good governance could be giving precedence to companies with a wide shareholder base over family-run firms in setting up banks. RBI has been a conservative regulator. Even in the first set of new banks given licence in 1994, one corporate entity entered the sector in the guise of a group of non-resident Indian investors belonging to a particular community, but a vigilant central bank did not allow the promoter to misuse it. It should take heart from this.
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1 comment:
Going by the past record,RBI will not and cannot commit a blunder by issuing licenses to undeserving entities. Even the FM has shown his desirability to consider issue of liccenses to real estte agents and brokers which by any stretch of imagination will not be considered by RBI as the risks involved in such cases are beyond RBI's regulatory stance. RBI being a very conservative and cautious regulator will do full justice in granting licenses to those who really deserve and be of in public service.
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