2014 Made A Lot Of Promises; Can The 2015 Deliver?

# Revised Banking reform

This is the most expected in 2015 as it was due in 2014. The reforms are looked as a necessary step to improve governance and especially in public-sector banks.

The finance ministry along with the PM will hold a discussion and debate in the new year. Raghuram Rajan would also accompany the FM and PM to brainstorm the banking chiefs on new strategy for the sector in new year.

# New Year, New Banks

As the New Year gushes in, new banks would be seen around too. There will be two new banks in the upcoming year for which RBI has approved the license to micro financier Bandhan and infra developer IDFC.

The new licenses have been released after a gap of almost a decade. Apart from new banks, new types of banks would also be coming up in the New Year.

RBI has invited applications for awarding licenses for payment banks and small finance banks - entities that can start operations in 2015.

This is the first time that the central bank will be giving differentiated bank licenses. The last date for submitting applications is January 16, 2015.

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