RBI issues guidelines for licensing of new banks in private sector
By Ira Dugal | Published On: February 22, 2013 19:02 (IST) | Duration: 32 min, 08 sec
The Reserve Bank of India (RBI) released the final guidelines for issuing new bank licences on Friday, paving the way for corporate houses to enter the banking sector. The RBI said it will allow applications for new bank licences until July 1, 2013. The statement did not exclude companies from any specific industry from applying for a new bank licence.