Banking on diversification | Business Standard Editorials

Banking on diversification | Business Standard Editorials

My VIEW:

As stated, there is need
to re-define the role of each category of all institutions in the Indian
financial sector, in the changed context. Perhaps
this should be the top priority for RBI, now that the promise to bring more
players into mainstream banking business through granting differentiated
banking licences has been fulfilled and the central bank will be getting some
breathing time, till the new institutions commence business.


The two
universal banks, 11 payment banks and 10 small finance banks should be guided
first to bring their own existing clientele into mainstream banking services
with all the discipline and ‘constraints’ attached to it, as the legal
requirements, the compliance requirements from regulatory and supervisory
angles and the business environment will change. Ideally, during the initial
days, none of these banks should try to woo customers from the fold of existing
banks.
M G Warrier

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