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  • Allowing Corporate Houses To Own Banks Could Be Disastrous: Raghuram Rajan & Viral Acharya

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    Raghuram Rajan and Viral Acharya opposed a central bank panel's proposal to allow corporate houses to own banks. They argued that this could intensify the concentration of political and economic power in the hands of a few business houses. Allowing corporate ownership of banks could be disastrous. Industrial houses can already easily obtain financing without direct ownership of banks.

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    Raghuram Rajan and Viral Acharya opposed a central bank panel's proposal to allow corporate houses to own banks. They argued that this could intensify the concentration of political and economic power in the hands of a few business houses. Allowing corporate ownership of banks could be disastrous. Industrial houses can already easily obtain financing without direct ownership of banks.

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    Allowing Corporate Houses To Own Banks Could Be Disastrous: Raghuram Rajan & Viral Acharya

    Uploaded by

    elbinelias
    Raghuram Rajan and Viral Acharya opposed a central bank panel's proposal to allow corporate houses to own banks. They argued that this could intensify the concentration of political and economic power in the hands of a few business houses. Allowing corporate ownership of banks could be disastrous. Industrial houses can already easily obtain financing without direct ownership of banks.

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    11/24/2020 raghuram rajan: Allowing corporate houses to own banks could be disastrous: Raghuram Rajan & Viral Acharya

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    Business News › Industry › Banking/Finance › Banking › Allowing corporate houses to own banks could be disastrous: Raghuram Rajan & Viral Acharya

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    Allowing corporate houses to own banks could be


    disastrous: Raghuram Rajan & Viral Acharya
    By Saloni Shukla, ET Bureau Last Updated: Nov 24, 2020, 07:10 AM IST
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    Synopsis
    Rajan and Acharya have argued that allowing corporate houses entry into the banking
    system could intensify the concentration of political and economic power in the hands
    of a few business houses.

    MUMBAI: Former Reserve Bank of


    India (RBI) governor Raghuram Rajan
    and Viral Acharya, who used to be
    deputy governor, opposed the proposal
    by a central bank panel to let industrial
    houses set up banks, describing this as
    a “bombshell.” Allowing corporate
    'Corporate houses in banking a bad idea': Rajan,
    houses into the banking system could
    Acharya slam RBI panel recommendations intensify the concentration of political
    and economic power in the hands of a
    few business houses, they said.

    “Industrial houses need nancing, and they can get it easily, with no questions

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