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 ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy April 2021 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

Indian Economy