New Delhi: Reserve Bank of India (RBI) is not possible to make exceptions to change ownership to privatize the state-run bank.
Instead, it will issue a comprehensive guideline which will also handle the ownership of the Indian lender corporation.
The sources told TII that the RBI would immediately begin the process of new norms, but had not made a decision to allow the home of the company to the banking business on a sharp problem on this problem.
The current norm does not allow the home of the company to enter the arena, although some large business houses such as Birla and Tatas have a large presence of financial services and may be interested in obtaining shares or establishing banks in the future.
The internal working group regulated by RBI has submitted a new license policy for the bank a few months ago but the regulator has not received a problem, given that it has received many inputs from stakeholders and has been stuck by fighting the impact of Covid in the economy.
The center and RBI have approved legislative amendments that may be asked to open the way for the privatization of banks, where three candidates have been identified.
The first of the block is expected to become an IDBI Bank, whose name has been published, with Indian foreign banks and Indian central banks other candidates in the pipeline, which has been selected by Niti Aayog with the final decision to be taken by the Core Secretary group.
IDBI Bank is on the sales list for the current financial year along with insurance companies managed by the government and two public sector banks.
But all four transactions are not possible until the next financial year.
The law to enable the privatization of a general insurance company has been released by parliament but has not made much progress.
And, in the absence of a road map for share ownership in the bank, the sale of IDBI banks is not expected in the near future after the bidder wants to know the condition of the feasibility and how much they can buy and how they need runny.