For Quick Alerts
For Daily Alerts

RBI's regulatory steps will strengthen financial markets: Chanda Kochhar

By Religare
RBI's regulatory steps will strengthen markets: Kochar
ICICI Bank's CEO and Managing Director, Chanda Kochhar said that the regulatory steps announced by Reserved Bank of India (RBI) in its annual monetary policy 2013-14 will strengthen financial markets, improve financial inclusion and enhance direct benefit transfer efficiency.

"The developmental and regulatory steps announced by RBI will serve to strengthen financial markets, improve financial inclusion and enhance efficiency of direct benefit transfers. The measures relating to strengthening of KYC norms and tightening of third party distribution processes are in the best long-term interests of banks and financial institutions and their customers," said Kochhar.

RBI has asked banks to bring in metropolitan areas under the lead bank scheme for the first time. The move has been aimed at providing doorstep banking to urban poor.

RBI said lead bank scheme, an integrated mechanism to extend banking facilities to economically weaker consumers, was not meant for just rural areas but for metro cities also.

Read more about: icici bank
Company Search
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