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  Corporates will not be allowed from being even a minority shareholder in consortium who want to bid for 61 per cent stake in IDBI Bank, as the current RBI norms which bar industrial houses from becoming bank promoters, an official said. As of now, RBI guidelines allow industrial houses to hold a maximum of 10 per cent stake in private sector banks, but they cannot be a promoter. Last week, the Central government and Life Insurance Corporation of India (LIC)  said that they will together divest 60.72 per cent stake in IDBI Bank. However, it barred large industrial houses from participating in the strategic sale. As per the bid document, 'large industrial/corporate houses' has been defined an industrial/ corporate group with assets of ?5,000 crore or more with the non-financial business of the group accounting for 40 per cent or more in terms of total assets/ gross income. An official said that corporate houses have not been permitted to participate in the bidding process for I

  Digital Banking Units (DBU), which were inaugurated by Prime Minister Narendra Modi on Sunday, will further augment the country's digital infrastructure, Reserve Bank of India governor Shaktikanta Das said.  “This will act as an enabler in the digital ecosystem and will improve customer experience by facilitating seamless banking transactions,” Das said in his speech. “The DBUs will augment our efforts to promote financial inclusion by providing banking services in a paperless, efficient, safe and secure environment.” The specific financial services to be extended by the DBUs include, savings, credit, investment and insurance. “On the credit delivery front, to start with, the DBUs will provide end-to-end digital processing of small ticket retail and MSME loans, starting from online applications to disbursals,” Das said. DBUs will also provide services related to certain identified government sponsored schemes.   The products and services in these Units will be provided in two mod