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RBI to publish clarifications on new bank licences
March 7, 2013 / 9:17 AM / 5 years ago

RBI to publish clarifications on new bank licences

MUMBAI (Reuters) - The Reserve Bank of India said it would publish clarifications related to the recently released final rules on bank licences on its website as it had received several queries from applicants seeking more details.

A man walks past a logo of the Reserve Bank of India (RBI) in front of its building in Kolkata May 21, 2012. REUTERS/Rupak De Chowdhuri/Files

“Considering that the clarifications sought would be of wider interest and use for all intending applicants, the Reserve Bank has decided to post the clarifications on its website. The identity of those who raise queries would be kept confidential,” the central bank said on Thursday.

The central bank asked applicants to send the queries by April 10.

The RBI on February 22 announced rules that would allow any type of company to apply for a banking licence, paving the way for India’s first new banks since the formation of Yes Bank (YESB.NS) in 2004.

Reporting by Suvashree Dey Choudhury

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