India's central bank mandates that group entities of banks cannot bypass parent guidelines for restricted business activities. Banks need RBI's prior approval for new group activities. No bank can hold over 30% of equity in any company with its group entities. Small finance banks and payments banks must follow licensing conditions.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.