....Even though Gandhi has said RBI would have no objection if an unsuccessful banking applicant wants to buy a substantial stake in a bank, a question remains. How would an entity which was not considered fit and proper to set up a bank be allowed to acquire a bank? Besides, RBI has strong reservations about a non-banking finance company (NBFC) taking over a bank. There have been cases though where banks and financial institutions have taken over NBFCs. .............
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