Banking in India quite some time-especially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect M&As, takeovers, and asset sales. In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by
Institute for Development and Research in Banking Technology certificates have been issued by the CA. With a view to provide focused attention and enable development of techno-banking in the country, the Institute has promoted a new Section 8 Company named The Indian Financial Technology and Allied Services (IFTAS). Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, Banks and other Financial Institutions. Services like INdian FInancial NETwork (INFINET), Structured Financial Messaging System (SFMS) and the Indian Banking Community Cloud (IBCC) has been handed over to IFTAS with effect from April 1, 2016. Institute for Development and Research in Banking Technology The