RBI may allow realtors, brokers to apply for bank licences: Report

By Religare
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    The Reserve Bank of India (RBI) may have softened its stance on allowing real estate firms and brokers to apply for banking licences, said a media report adding that the central bank may set aside its reservations about these entities while releasing its final guidelines this quarter.

    Earlier RBI had said brokers and realtors would not be eligible to applying for the banking licences saying that "past experience with brokers on the boards of banks has not been satisfactory".

     

    However, this decision of RBI met with criticism from not only corporate sector but also finance ministry on the ground that if banks were allowed to undertake broking activities, there was no reason why entities engaged in such legally permitted activities should be disallowed.

    RBI deputy governor Anand Sinha recently said that regulator and the finance ministry would arrive at a common position on the issue.

    Besides, the report said final guidelines may keep most of the proposals from the draft guidelines like the minimum capital requirement is expected to remain at Rs 500 crore.

    Read more about: rbi
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more