Highlighting the importance of small finance banks (SFBs) in fostering financial inclusion, former Financial Services Secretary D K Mittal said most of them would not clamour to become universal banks if some restrictions are eased by the Reserve Bank.
To promote financial inclusion in the
Talking about restrictions, he said, the RBI should consider allowing co-lending, pass through certificate (PTC) and securitisation, and setting up of subsidiaries
Govt weighs Bombay High Court ban on banks issuing circulars to defaulters tribuneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneindia.com Daily Mail and Mail on Sunday newspapers.
The Finance Ministry is reviewing the Bombay High Court order banning public sector banks from seeking look-out circulars (LOCs) against wilful defaulters. The court deemed the order arbitrary and violative of a person s fundamental rights. The finance ministry is aware of the judgement and will assess it. The court held that an office memorandum empowering public sector banks to seek LOCs against default borrowers or their guaranteeees was unconstitutional.