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Journalism of Courage
The Reserve Bank of India is holding a meeting with industry chambers,including Indian Banks’ Association (IBA) and CII,tomorrow in Mumbai to discuss modalities for granting new banking licences to business houses and non-banking finance companies.
There is meeting of bankers with RBI Deputy Governor on new banking licences tomorrow,IBA Chief Executive K Ramakrishnan said. Select bankers,led by Bank of Baroda Chairman and Managing Director M D Mallya,would be attending the meeting,he said.
Members of industry chambers CII would also be meeting RBI Deputy Governor Usha Thorat.
In August,RBI announced discussion paper on new banking licences and regulations for the same to foster greater competition.
“The Reserve Bank is considering providing licences to a limited number of new banks. A larger number of banks would foster greater competition,and thereby reduce costs and improve the quality of service,” the central bank had said in the discussion paper.
