On Monday, shares of IDFC Ltd. surged 12 per cent to Rs 40.10 and Ujjivan Financial Services jumps 15 per cent to Rs 285 while 20 per cent in Equitas Holdings Ltd. to Rs 63.40, following the RBI panel’s report which recommends change in the banking regulation.
The panel in the released report recommends that “Non-operative Financial Holding Company (NOFHC) should continue to be the preferred structure for all new licenses to be issued for universal banks. However, it should be mandatory only in cases where the individual promoters/promoting entities/ converting entities have other group entities.” All the banks licensed before 2013 shall move to an NOFHC structure within 5 years after attaining a tax-neutrality status, it added.
The report has been placed on RBI’s website for the comments of stakeholders and members of the public. Comments and suggestions on the report may be submitted by 15 January, 2020 through an email and RBI will examine it before taking a view in the matter. 
The panel has also proposed that after the necessary amendments to the Banking Regulations Act, large corporate may be permitted to promote banks and raising their stakes in private sector banks for up to 26 per cent. It also suggested the conversions of big NBFCs into banks.