RBI outlines universal banking roadmap

The Reserve Bank of India has warned against any dilution of prudential and supervisory norms for banking business, while suggesting a consolidated approach towards supervision and regulation.

In a submission to the Parliamentary Standing Committee on Finance the central bank has spelt out broad contours of its proposed policy for universal banking, including a case-by-case approach towards allowing domestic financial institutions to become universal banks.

According to the report, the RBI has

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