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In a notification, the Reserve Bank of India (RBI) informed that it would issue clarification on the final guidelines for new bank licences in response to queries raised by intending applicants.
It may be noted that the central bank has been receiving queries from applicants seeking clarifications on the guidelines on licensing of new banks in the private sector.
But the central bank has not informed when it would come out with the clarifications. The regulator invited applicants to write in by April 10, assuring that the identity of those seeking clarifications will be protected.
The RBI decided to post the clarifications on its website considering that the clarifications sought would be of wider interest and use for all intending applicants.
On February 22, the central bank released the final guidelines after almost three years of the then Finance Minister Pranab Mukherjee making an announcement in the Budget to allow new private banks. RBI last gave bank licences around a decade ago.
Many business houses, including the Tatas, Birlas, Mahindras, Anil Ambani-led Reliance Capital, asset financier Shriram Capital, LIC and India Post among others have evinced interest or are tipped to contemplate an entry into the banking fray.