An RBI working group insider explains the thinking behind businessmen-as-bankers recommendation

"We have suggested revisiting the fit-and-proper criteria. We have said that financial conglomerates getting into banking should have a structure NOFHC to come through and that companies should be regulated through RBI guidelines and necessary legislative framework," says Sachin Chaturvedi who is on RBI's central board.

from Banking/Finance-Industry-Economic Times https://ift.tt/3o4iRJN