How new banking licences help the borrower

The newly appointed Reserve Bank of India (RBI) Governor Raghuram Rajan has indicated that new banking licences would be issued as early as January 2014 and that he would make the process more frequent. The central bank has issued licences to 12 banks in 20 years. Ten banks were issued licences based on the guidelines issued in January 1993 and later in January 2001.  The guidelines were revised and fresh application was invited in which Yes Bank and Kotak Mahindra BankBSE 3.58 % got the banking licence in 2003-04. 

Read more >> Click here