RBI likely to issue few bank licences: P Chidambaram

RBI likely to issue few bank licences: P Chidambaram
The Reserve Bank of India (RBI) is likely to issue a few bank licences notwithstanding the model code of conduct which came into force yesterday, Finance Minister P Chidambaram said as per the PTI report.

"What the code of conduct has got to do with this (bank licence process). The government and regulators are discharging their normal duties... They (RBI) wish to issue a few licences," he said after a meeting of PSU bank chief here. "So that's the indication we have got. We are not interfering with that process, that is the RBI's decision," he added.

Guidelines for setting up new private banks were issued in February 2013 and the last day for applications was July 1, said the media report.

Dion Global Solutions Ltd.

Story first published: Thursday, March 6, 2014, 9:10 [IST]
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