Bank licence door likely to stay shut for large industrial houses

RBI's final report, expected in 10 days, set to overrule working group's suggestions

The Reserve Bank of India (RBI) may not be in favour of issuing banking licences to large industrial houses as suggested by an internal working group (IWG) in November last year, and the regulator is expected to make its stance clear when it releases its final report within 10 days. “The status quo may be expected to continue,” said a top source.

The central bank may also not substantially move from its stated position that “a non-banking financial company (NBFC) which is part of a group that has total assets of Rs 5,000 crore or more, and that the non-financial business