Sources from the Reserve Bank of India (RBI) informed that some entities raised queries on the guidelines for new bank licences and the central bank would issue clarification on this by the early part of May.
It may be recalled that in February 2013, the central bank released guidelines for new bank licences and asked interested organisations to submit applications by July 1, 2013.
However, companies that are interested to foray into banking business are not clear about various clauses of the new bank licence norms.
NBFCs that are interested to enter into banking operation want to know whether RBI would allow conversion of all their Tier-1 branches and locations into bank branches in case of the transfer of their existing activities into various banking functions.
This would be the first time RBI would be issuing licenses in the last around one decade.
The central bank would make public names of all the interested entities after it receives all the applications on July 1.
Those business entities that are interested to foray into banking are Anil Ambani-led Reliance Group, L&T, Mahindras, Birlas, Religare and Videocon, to name a few. Some NBFCs like Shriram group, Indiabulls, India Infoline, IFCI and PFC are also interested to step into banking operations.