RBI Deputy Governor: Licence for small banks soon!
Posted on: 21/Apr/2015 5:26:54 PM
Reserve Bank of India Deputy Governor, Mr. Gandhi, informed that the licences for opening small banks will be released soon in a period of a few months.
He told that over 100 applications have been received in this regard and are being scrutinised.
73 applications have been received for starting small banks. 41 applications have been received for opening payment banks.
Small banks will offer all banking services but on a limited scale for savings & loans. Payment banks will provide only service of giving money.
Reserve Bank of India has undertaken this step to open small banks & payment banks in order to expand the banking services in the country.
