Motilal Oswal
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Motilal Oswal
Finance

Indiabulls bids for a banking licence via Lakshmi Vilas: What may RBI do

Updated : April 08, 2019 04:43 PM IST

The regulations require that a group to be a promoter of a bank must not have more than 40 percent of its income from non-financial businesses.
The regulator’s worry is that the promoter entity should not be using depositors’ money to give cheap loans to clients of its other business.
But the most important requirement from a promoter, which the RBI states upfront in its guidelines, is that “the promoting entity and the promoter group should have a past record of sound credentials and integrity”.
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