RBI says banks' group entities cannot be used to circumvent norms
Reserve Bank of India said on Friday group entities of banks shall not be used to circumvent guidelines applicable to the parent for carrying on business activities that are not otherwise permitted.
RBI reviewed the current guidelines in public interest, in order to ring-fence the banks' core business from other risk-bearing non-core businesses and to provide level-playing field to all the banks, according to a draft circular.
Indian laws permit banks to undertake various forms of businesses, in addition to the core business of banking.
These can be undertaken by the bank departmentally or through a separate group entity.
Banks will now require prior approval of the RBI to undertake any new activity through a group entity, it said.
HR
Human Potential and the Future of Employment
By — Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By — Metla Sudha Sekhar, Developer and Lead Instructor
Finance
AI and Generative AI for Finance
By — Hariom Tatsat, Vice President- Quantitative Analytics at Barclays
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By — Metla Sudha Sekhar, Developer and Lead Instructor
Strategy
ESG and Business Sustainability Strategy
By — Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader
Legal
Labour Laws
By — Ankita Ray, Partner: Cyril Amarchand Mangaldas
Artificial Intelligence(AI)
AI and Analytics based
