Mahindra’s disclosure comes amid evident regulatory caution over banking ownership by business houses. The Reserve Bank of India (RBI) abandoned a proposal that would have permitted business houses to eventually own banks after public resentment against an internal working group suggestion in favour of allowing such ownership. The Mahindra Group already owns a non-banking finance company (NBFC).
A CEO’s perspective: India must get rich before it gets old
India’s demographic dividend is shrinking, raising concerns about economic growth. While the nation is poised to become the third-largest economy by 2030, challenges like the
February 2, 2025