Views divided on banking licences: Subbarao

Views divided on banking licences: Subbarao

Kolkata: Public opinion on new banking licences is divided on all key issues, said D. Subbrao, Reserve Bank of India’s (RBI) governor, after the central bank’s board meeting in Kolkata on Thursday. New banking licences were discussed at the board meeting, and it was decided that RBI would make the feedback public.

Views on all key issues such as whether or not corporate houses should be allowed to set up banks, whether non-banking finance companies (NBFC) should be allowed to turn into banks, were divided, Subbrao said.

RBI received feedback on five key issues. It would finalise its guidelines on new banking licences by the end of next month.

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