RBI reviewing bank ownership rules, may allow foreign lenders to hold 26% stake
The central bank will examine if foreign banks can be allowed to own 26 per cent in local banks 'as a general matter of policy', the governor said. Currently, while foreign investors, including portfolio investors, can own up to 74 per cent in Indian banks, regulations cap a strategic foreign investor's stake at 15 per cent.
However, the RBI can review and allow a request by an investor to raise the stake to 26 per cent. These aspects will be addressed in the review as the RBI streamlines the norms, he said.
According to a Bloomberg report, when asked whether the regulator would reverse its age-old concerns on letting business conglomerates own banks, the governor said, 'Conducting business and real economic activities within the same group has conflict of interest.'
Malhotra also said an internal committee of the RBI has reviewed the existing liquidity management framework and it will release a report by the end of this month detailing the findings.
The RBI will consider cutting interest rates further if inflation falls below its projection or growth comes under pressure in Asia's third-largest economy, Governor Malhotra said.
'The monetary policy committee will always factor in the evolving situation, the outlook, and then decide what the economy really needs,' Malhotra said in an interview with CNBC-TV18 on Tuesday. 'Certainly, the policy rates can be cut' if inflation is lower than the central bank's forecast or growth remains weak, he added.
Retail inflation declined to over six-year low of 2.1 per cent in June, nearing the RBI's comfort zone, on account of subdued prices of food items, including vegetables, driven by widespread monsoon.
The Consumer Price Index-based inflation was 2.82 per cent in May and 5.08 per cent in June 2024. Inflation is on a decline since November 2024.
Year-on-year inflation rate based on CPI for the month of June 2025 over June 2024 is 2.1 per cent, the National Statistics Office (NSO) said in a statement.
(With inputs from agencies)
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