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‘Plan to allow corporates to set up banks a bombshell’

Ex-Guv Raghuram Rajan says the plan is best left on the shelf.

New Delhi, November 23

The RBI working group’s proposal to allow corporate houses to set up banks is a "bombshell" and at this juncture, it is more important to stick to the tried and tested limits on involvement of business houses in the banking sector, according to an article jointly written by former RBI Governor Raghuram Rajan and ex-Deputy Governor Viral Acharya.

They also said that the proposal is “best left on the shelf”. — PTI

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