PK Mohanty Committee

  • The Reserve Bank of India (RBI) has constituted a five-member Internal Working Group (headed by PK Mohanty) to review extant ownership guidelines and corporate structure for ‘Indian Private Sector Banks’.
  • The Committee submitted its recommendation in November 2020 and below are its key recommendations –
    • Large corporates and industrial houses may be allowed as promoters of banks only after necessary amendments to the Banking Regulation Act, 1949.
    • Successful NBFCs, with an asset size of Rs. 50,000 crore and above, including those which are owned by a corporate house, may be considered for conversion into banks subject to completion of 10 years of operations.
    • The ....
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