Reserve Bank of India: Licences for new banks in August!
Posted on: 03/Jun/2015 5:03:33 PM
Issue of licences for new banks will be certainly made by Reserve Bank of India in August.
Through this step, 12 financial service institutions in the country will now enter the banking sector.
Reserve Bank of India Governor, Mr. Raghuram Rajan, informed that the new licences will be the first phase of the action plan. He was answering a query from a press reporter.
As per the statistics released by Reserve Bank of India, 26 companies have applied.
2 companies, Tata sons & Videocon withdrew their applications.
A committee headed by former Reserve Bank of India Governor, Mr. Bimal Jalan, has submitted a report about this.
The committee has approved 24 applications and recommended for issue of licence for banking services.
