How Indian Banks are Witnessing A Great ResetIndia’s banking sector is in the middle of a massive transformation. This time, the trigger is not a crisis, but reforms, led by the Reserve Bank of India (RBI). The central bank’s decision to allow UAE’s NBD to acquire a controlling stake in RBL Bank, and the entry of Japan’s SMBC into YES Bank, are unprecedented in a system that has always kept foreign lenders at an arm’s length. Similarly, in the NBFC space, Japan’s MUFG is acquiring a stake in Shriram Finance, while Mizuho Financial Group is buying a majority stake in Avendus Capital.