........RBI wants to convert existing NBFCs into banks…
If we want to continue to achieve financial inclusion, we should realise some NBFCs like us and banks are in mutually exclusive customer segments. Hence, if we want NBFCs to get into banking space, then they should be encouraged to continue with their business models and, at the same time, expand on their additional products to the existing customer base after conversion.
What if RBI insists?
In the current scenario, there are some businesses which we can do as a bank. So, there is a choice, which we will have to exercise. As long as we are able to convince the regulator that there will be no regulatory arbitrage, I am sure they will support us in furthering financial Inclusion...................
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