Can't let big biz into banking yet

Reserve Bank needs to take extra care when it comes to digital lenders, says KV Kamath

- BENN KOCHUVEEDAN @ Mumbai

KUNDAPUR Vaman Kamath, the veteran banker who led the rapid growth of ICICI Bank and helmed it for nearly two decades from its inception and made the largest private sector lender within few years, has spoken against allowing corporate houses into banking space, saying the regulator has to be satisfied that they will not misuse public deposits through the backdoor.

Kamath, who also headed New Development Bank, the developmental bank floated by the BRICS groups as its first chairman, said the Reserve Bank needs to take extra care when it comes to digital lenders, saying there are more than enough signs of rash behaviour by them.