Indias banking sector is divided as to the benefit of
the Reserve Bank of Indias (RBI) new draft guidelines for
would-be entrants to the banking sector, with some branding the
rules cautious and unclear.
The draft legislation, released on August 29, stipulates that
companies generating 10% or more of their income from real
estate, construction or broking, will not be eligible to set up
banks in the country.
In addition, successful license applicants are expected to
have diversified ownership, sound credentials and
integrity as well as a successful track...