RBI will come out with a discussion paper on new norms for granting banking licences to private sector companies and Non-Banking Financial Companies by July end. The discussion on new banking licences will be posted on the website of the RBI for public comments. Thereafter, detailed discussions will be held with all stakeholders on the discussion paper and guidelines will be finalised based on the feedback. All applications received in this regard would be referred to an external expert group for examination and recommendations to the Reserve Bank for granting licenses.
The move follows the announcement made by Finance Minister Mr. Pranab Mukherjee in the Budget speech 2010-11 to give more banking licences.
The move follows the announcement made by Finance Minister Mr. Pranab Mukherjee in the Budget speech 2010-11 to give more banking licences.
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