The announcement of guidelines for new bank licences could be delayed with the government likely to set up a panel to vet the draft entry rules framed by the Reserve Bank. Financial services secretary SK Sharma said on Tuesday that the finance ministry had received the draft guidelines from the banking regulator. "We are currently studying those guidelines and will revert to the banking regulator with our comments," he said, adding that the focus would continue to be financial inclusion.
Sharma, however, refused to give details of the draft guidelines and the time frame for a decision. A finance ministry official told ET that any decision would take time. "An expert committee can be set up to vet the guidelines before they become fully operational. Effectively, new licenses will be given by end of 2012," he said. Finance Minister Pranab Mukherjee had said in his budget speech that the Reserve Bank of India
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