The government's new foreign direct investment (FDI) rules which, according to the banking sector, are rather ambiguous might likely be reviewed. The Reserve Bank of India (RBI) had recently raised issues concerning the rules, and other banks too are awaiting clarity of the new policy.
As per the FDI guidelines given, the ownership of India's biggest private lender ICICI Bank would need to undergo a change - they would have to substitute their 'resident entities' status with a non-resident entities status.