The Working Group on “Introduction of Holding Company structure in India for banks” has recommended migration of major financial conglomerates to the holding company structure to address these limitations to some extent. Necessary legal amendments will have to be put in place for facilitating such migration.
8 / 10  BIS central bankers' speeches  At the same time, ESTER is based purely on deposit transactions, which are the most frequent means of conducting arm’s length transactions on the basis of a competitive quote procedure. This ensures that the rate reflects actual market moves, rather than idiosyncratic factors.