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Our Bureau

Mumbai, Nov 30 The wait just got longer for ICICI Bank and SBI on their proposals to set up holding companies for their insurance and asset management businesses.

The Reserve Bank on Friday said that it was still in the process of examining the feedback received on its discussion paper about holding companies in banking groups.

In a press release issued here the central bank said, “A large number of responses to the discussion paper have been received which require detailed examination from legal and prudential perspectives.

The Reserve Bank is in the process of examining the comments and will put another draft in this regard for further public comments.”

ICICI Bank and SBI had proposed to hive off their insurance and asset management businesses to an intermediate holding company. The banks had planned to list their holding companies for raising money for their capital-intensive insurance businesses.

“We will wait for final guidelines. The delay does not impact our plans as the value of our company is increasing,” said Ms Chanda Kochhar, Joint-Managing Director and CFO, ICICI Bank.

More Stories on : Financial Policy | Financial Services | ICICI Bank Ltd | State Bank of India

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