RBI releases final guidelines for new bank licences

The RBI said it will allow applications for new bank licences until July 1, 2013, and in its statement did not exclude companies from any specific industry from applying for a new bank licence.

In draft rules issued in 2011, the central bank had excluded companies in the property and brokerage industries from applying for new bank licences.

No new Indian bank has been formed since Yes Bank (YESB.NS) in 2004. [Via]

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