Money & Banking

Draft norms on new banking licences soon

PTI Kolkata | Updated on May 10, 2011 Published on May 10, 2011

The Reserve Bank of India (RBI) would shortly come out with draft norms on new banking licences.

“RBI will shortly come out with draft guidelines on new banking licences,” Mr B. Mahapatra, CGM in-charge of Department of Banking Operations and Development, RBI, said here today.

Last year, the central bank circulated a discussion paper on new banking licences which said that corporates and NBFCs would be allowed to promote banks.

The apex bank had already circulated the discussion paper on deregulation of savings rates, Mr Mahapatra said.

Published on May 10, 2011
This article is closed for comments.
Please Email the Editor