Recently seen in news that the Reserve Bank of India RBI has reconstituted a five member internal wo...........

Economic and Social Issues Rural Banking and financial institutions

Recently seen in news that the Reserve Bank of India (RBI) has reconstituted a five-member internal working group headed by P.K. Mohanty to address which of the following?

To review the existing guidelines on ownership and corporate structure of private sector banks.

To align the current regulatory framework with global best practices while being mindful of the context of domestic financial system.

To review the development of Housing Finance Securitisation Market.

To examine the MSME sector accountability to take loan and return back to the bank.

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Explanation:

Recently, the Reserve Bank of India (RBI) has constituted a five-member internal working group headed by RBI executive director P.K. Mohanty to review the existing guidelines on ownership and corporate structure of private sector banks.
Tasks allocated to the group

The internal working group will examine the existing licensing guidelines and regulations on ownership and control of private sector banks.
It will also suggest appropriate norms, keeping in mind the issue of excessive concentration of ownership and control.
Also, it will examine and review the eligibility criteria for individuals or entities to apply for a banking license, and review the promoter shareholding norms at the initial licensing stage.