Rajan: New bank licences in 2014

September 04, 2013 17:50

Raghuram Rajan says that besides inflation control, RBI mandate is inclusive growth and development and financial stability. Banks will not be required to approach RBI for opening branches.

RBI will give out new bank licences soon -- Bimal Jalan to chair committee that will screen applications for bank licences. New bank licences to be given out around January 2014.

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