RBI extends period for receiving feedbacks by three weeks

Mumbai, Sep 17 (UNI) The Reserve bank today extended the period for receiving feedbacks for the discussion paper on holding companies, which it had put on its website, by another three weeks.

According to an earlier directive from RBI, the period for sending feedbacks had actually ended today.

''In view of the response received on its discussion paper on holding companies in banking groups, the Reserve Bank of India has today extended the time for receiving feedback for another three weeks.'', RBI said in the notification.

Reserve bank deputy Governor Leeladhar had hinted about this extension last week when he said ''the decision will come in two to three weeks'', on the sidelines of a banker's conference in Mumbai.

As of now now, country's two largest banks State Bank of India(SBI) and ICICI bank are learnt to have submitted applications for setting up holding companies for asset management.

RBI, in the discussion paper, had proposed a holding company structure for banks in which both bank and non-bank subsidiaries of a banking group will be owned by the holding firm.

UNI