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This is an archive article published on February 26, 2010

RBI to dole out more banking licences

FM Pranab Mukherjee said Reserve Bank of India (RBI) will issue banking licences to more entities.

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Finance Minister Pranab Mukherjee said Reserve Bank of India (RBI) will issue banking licences to more entities including the Non-Banking Financial Companies (NBFCs).

“RBI will given additional licences” for setting up banks in the country,he said presenting the budget for 2010-11 in the Lok Sabha.

He said banking licences will also be issued to the NBFCs which fulfil the prescribed criteria.

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