RBI's New Banking License: Permits Only to High Quality Applications

Bangalore: After the Reserve Bank of India gave a green signal to issue new bank permits, plenty of applications made their way to the RBI for the license. According to the RBI spokespersons, around 39 applicants have applied for the new banking license.  

In this regard, the RBI said that it will take wise and clear decisions in issuing the permit for the newer banks and also, it is not possible to allow all the eligible candidates to have individual licenses.

RBI spokesperson said, “There is no predetermined number. RBI will be very selective while considering the applications for new bank licenses. It will look for very high quality applications,” as reported in PTI. It also said, “It may, therefore, be not possible to issue license to all the applicants meeting the eligibility criteria.”

On February, 2013, RBI issued the final guidelines regarding the issuing of new banking license and this month, RBI finally said that it has received plenty of entries from various interested license seekers. RBI also gave some clarifications regarding this matter.

Also Read:
5 Must Know Tips for NRIs to Buy Property in India
How Brands Like Google And Apple Tricked Tax?