Broadly, the main concerns of allowing large corporate houses to own banks relate to conflicts of interest, governance issues and concentration of economic power.
With more and more banks going to be set up after ‘on TAP’ licensing to small Finance, Payment banks etc there should be a proper mechanism to monitor these type of stringent actions.
The experience of banks, regulators and experts since 2010 have been very mixed for DFA. Experts have sharply divided views on the efficacy of the Act in achieving its stated goals.