ICICI Securities: Abizer Diwanji’s Views On RBI’s Internal Working Group Report

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ICICI Securities Report

We organised an expert call with Mr. Abizer Diwanji, Partner and National Leader – Financial Services — Ernst & Young and Ms. Hasina Chhil, E&Y to discuss the Reserve Bank of India’s Internal Working Group Committee report on ownership guidelines and corporate structure for private banks.

They articulated their view that the report is path-breaking on several aspects -

1. it indicates a fundamental rethink on regulatory stance and a shift away from the traditional thought process on many fronts;

2. large corporates with a well-run financial service business over a decade should not be hindered from building a scalable banking platform just due to the absence of a consolidated supervisory framework.

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