RBI to allow 4 new banks: Report

Last Updated: Friday, October 05, 2012, 09:20

Tags: Reserve Bank of India, RBI new banks, new banking licences

Zeebiz Bureau

New Delhi: In a big-ticket announcement to boost the financial sector, the Reserve Bank of India (RBI) is all set to invite applications for new banking licences this month, a newspaper reported on Friday.

RBI is expected to offer four slots for new banks. The minimum capital requirement for each bank is expected to be pegged at Rs 1,000 crore.

The Reserve Bank of India released the Draft Guidelines for “Licensing of New Banks in the Private Sector” on its website on August 29, 2011. The Reserve Bank had sought views/comments on the draft guidelines from banks, non-banking financial institutions, industrial houses, other institutions and the public at large.

Citing a top government source, The Indian Express report said that the RBI will issue the final guidelines before announcing its second quarter monetary policy on October 30.

As per the newspaper, industrial houses and companies having large involvement in real estate and construction won’t be granted licences and that they will be given only after the bill is passed by Parliament.

First Published: Friday, October 05, 2012, 09:20

Comments

RBI has taken allowing private banks very late, see the nighbour chine they are having separate banks for Construction, they are in top 10 world banks list, we did not have world class bank not yet, though our financial position, is good we are unable to build up world class bank, and one more thing waiver of loans it is very reduculus decision taken by the govt they making indian people very lethargic and all free side, RBI must look on this, to boost up economy banks are backbones observe how chaina is performing comparing to chaina we are far away to reach chaina Indepence decision is lagging in RBI-V.NARASIMHA REDDY -ANANTAPUR, Andhra pradesh

Banking should not become another Telecom The main factor which pushed Telecom into ill-health is the grant of too many licences The existing operators - say about 10 was good enough for competition purpose Now, it is hopelessly bloated in the Telecom sector Even the best, Bharti is struggling same may happen - if more Banking licences are granted - in Banking sector-v.vijayamohan -Chennai-602024

INSTEAD OF OPENING THE NEW BANKS THE CONDITION OF PRESENT BANKS BE REFORMEDTHE CUSTOMER HAS TO SPEND LOTS OF TIME IN LINE TO GET THE WORK DONE-D.N.MAKHIJA -DELHI....INDIA

Hi, The lowered ratings of Fitch, Moody’s and S&P was a charade so that the politicians having thousands of crores of black money stashed abroad can LAUNDER it back home Otherwise it is stuck for ever abroad as Congress will NOT win anymore elections in India FDI from abroad has now made it possible for this enormous black money to be looped back into India officially using BENAMI foreign names –like how the IPL owners are all benami These corrupt politicians will now OWN India’s infrastructure in assets the way Rothschild has done it in Europe and USA We Indians and her security agents have NOT fallen for the GDP versus growth nonsense After 2104 elections, these inflowed funds from foreign banks will be seized Come on your corrupt folks bring it back before 2014 Like for YSR/ Jagan Mohan Reddy—we will put your children and grandchildren in jail Punch into Google search MODERN ECONOMICS , AN EMPIRICAL PSEUDO SCIENCE- VADAKAYIL Capt ajit vadakayil -ajit vadakayil -calicut

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