Ltd., highlighted the significance of this index, stating, "The launch of the BSE MidSmall PrivateBanksQualityTiltIndex expands our sectoral index offerings and offers market participants a transparent, rules-based benchmark to track emerging private sector banks with a quality tilt....
Opening accounts in corporate or private sector banks will now require prior approval from the finance department.The govt said any proposal to open an account with a privatebank must carry detailed justification, explain why a nationalised bank cannot be used and provide full particulars of the scheme concerned....
