RBI constituted a five-member Internal Working Group in 2020 to review present ownership guidelines and corporate structure for Indian Private Sector Banks.
To review the extant licensing guidelines and regulations relating to ownership and control in Indian private sector banks and suggest appropriate norms.
To examine and review the eligibility criteria for individuals/ entities to apply for a banking license and study the current regulations on holding of financial subsidiaries through a non-operative financial holding company (NOFHC) and suggest the manner of migrating all banks to a uniform regulation in the matter.
Rajnish
PK Mohanty Committee