Many of us here remember vividly the famous words – spoken almost 40 years ago – that “one small step for (a) man” can be “one giant leap for mankind” (Neil Armstrong, Apollo 11 mission, 20 July 1969). The same event can have a varying degree of significance for different people, depending on their viewpoint.
•  India adopted Bank-Subsidiary model till the early 90s, and then moved on to the Universal Banking model. •  RBI had constituted a Working Group, under former Deputy Governor Shyamala Gopinath, in June 2010 to study the different holding company structures internationally and to indicate a roadmap for adoption of the holding company structure in India.