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RBI likely to finish scrutiny for new bank licence in 1 month


The Reserve Bank is likely to complete initial scrutiny of 26 applications for new bank licences in a month, a senior RBIofficial said. Thereafter, the shortlisted names will be forwarded to the Bimal Jalan panel for further action. 

"It is being screened. The eligibility of the applicants including 'fit and proper' criteria and other relevant parameters are being scrutinised," the official said.  The process is likely to be completed in a month or so. Thereafter, shortlisted names will go to the High Level Advisory Committee chaired by former RBI Governor Bimal Jalan, the official added. 

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