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ICICI Direct Report
The Reserve Bank of India had constituted an internal working group on June 12 to review extant ownership guidelines and corporate structure of Indian private sector banks.
Terms of reference included review of the eligibility criteria for individuals/entities to apply for banking license; examination of preferred corporate structure for banks and, review of norms for long-term shareholding in banks by promoters and other shareholders.
These steps are in right direction and beneficial for the sector in the long-term but we believe these measures have played out in the recent price rally.
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