In order to expand the reach of banking, the Reserve Bank today said it is considering making the bank licensing process more frequent and allow free entry of banks as and when necessary. “We propose to carry forward these ideas and come up with a detailed road map of necessary reform and regulations for free entry and making the licensing process more frequent after we get comments from the stakeholders,” RBI Deputy Governor K. C. Chakrabarty said here. RBI is in the process of issuing new bank licences consistent with the highest standards of transparency and diligence, he said. RBI has already come out with a discussion paper on the banking sector in India, on which the regulator has invited comments from stakeholders. “The document explores the possibility of a differentiated licence for small banks and wholesale banks, the possibility of continuous on-tap licensing and the possibility of converting large urban co-operative banks into commercial banks,” he said.
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