EXTERNAL EXPERT GROUP FOR NEW BANK LICENCES

Reserve Bank of India (RBI) in its annual credit & monetary policy has said that all applications received for getting new bank licences would be referred to an external expert group for examination and recommendations to the RBI for granting licences. RBI will also prepare a discussion paper marshalling the international practices, the Indian experience and also the extant ownership and governance (O&G) guidelines on the issue of granting licences to the new players and place it on its website by end of July 2010 for wider comments and feedback.