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RBI chief says RBI board committee to decide on bank licences

Rajan also called issuing new bank licenses a "regulatory" process that should not come to an end because of a change in government.



Mumbai: The Reserve Bank of India Governor Raghuram Rajan said on Wednesday a final call on issuing new bank licenses would only be given after a decision is reached by the central bank board committee, without providing a specific timeline.

Rajan, in an interview with a TV channel, also called issuing new bank licenses a "regulatory" process that should not come to an end because of a change in government.

On Tuesday, the election commission allowed the RBI to announce new bank licences even before the general elections conclude next month.

From Zee News

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