In the last two rounds of licensing of banks in the private sector, as I mentioned earlier, industrial and business houses had not been allowed to promote new banks, partly out of these concerns. 22. Given the divergent views on the issue of permitting industrial and business houses to promote banks, we in RBI discussed and debated a lot internally.
With that, you can rest assured that the BSP will continue to strive for a regulatory environment that promotes the right balance of innovation, competition, and consumer protection. We also remain committed to establishing robust frameworks that protect the interest of all stakeholders.