The Reserve Bank will announce new bank licensing guidelines within a fortnight under which four-five licences are likely to be given to private sector entities, Finance Minister P Chidambaram
\n\u201cIn two weeks from today, the Reserve Bank of India will announce the final guidelines for licensing more private sector banks. <\/p>\n
\nWe expect that four to five licences will be granted,\u201d he told the Financial Times in an interview on Tuesday. <\/p>\n
\nRBI has received comments from various stakeholders on its draft guidelines for licensing more private sector banks and is currently working on final norms. The draft set of guidelines was issued in August 2011. <\/p>\n
\nIn a separate TV interview, Chidambaram also said no eligible corporate entity should be denied opportunity to enter the banking space. <\/p>\n
\n\u201cBut if the guidelines are made out and transparently spelt out and if a corporate satisfies those guidelines, I don\u2019t see any reason why a corporate should not be given a licence,\u201d he said. <\/p>\n
\nA number of large corporate houses, including Anil Ambani-led Reliance Group, financial conglomerates Religare and Shriram groups, engineering-to-technology major L&T group and Aditya Birla group, are said to be interested in entering the banking business depending on the regulatory framework. <\/p>\n
\nChidambaram further said India has been liberal in granting branches to foreign banks more than what \u201cwe are required to do under the WTO regulations\u201d. <\/p>\n
\n\u201cSo we have, today, a variety of banks competing with each other – foreign banks, Indian private sector banks, public sector banks, cooperative banks which are under the supervision of the State Governments,\u201d he added. Currently there are 26 public sector banks, 22 private sector banks and over 40 foreign banks. <\/p>\n
\nHe also dispelled the impression that public sector banks were an obstacle to financial liberalisation.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Reserve Bank will announce new bank licensing guidelines within a fortnight under which four-five licences are likely to be given to private sector entities, Finance Minister P Chidambaram \u201cIn two weeks from today, the Reserve Bank of India will announce the final guidelines for licensing more private sector banks. We expect that four to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-16383","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/16383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=16383"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/16383\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=16383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=16383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=16383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}