........The Reserve Bank of India’s (RBI) guidelines for issuing new licences require promoters to ring fence their banks’ operations from activities of other group concerns. The new banks will be barred from extending credit or investing in equity/debt instruments of any promoter group entities or associated individuals. This effectively rules out the possibility of corporates promoting banks mainly with a view to mobilise public deposits, which they can then lend out on favourable terms to their own companies............
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