Favoring the real estate sector, Finance Ministry expressed its view that the realty firms should be permitted to run banks by the Reserve Bank of India (RBI).

Will RBI permit realty builders to run banks as Finance Ministry suggests?

Finance Ministry, favoring the realty sector and broking firms said that they should be permitted to run banks. The ministry said that the RBI should permit the real estate firms and broking firms to run banks. Finance Ministry was commenting on the RBI’s plan over giving new bank licenses.

Though Finance Ministry supported and favored the real estate sector and broking firms, it added that there should be absolute ban on gaining exposure in the group companies or entities related to any of the promoters. Continue reading →