NBFCs may get priority for bank licences: RBI
MUMBAI: The Reserve Bank of India’s (RBI) deputy governor KC Chakrabarty
on Wednesday said that non-banking financial companies (NBFCs) may get
priority over other applicants in the issue of banking licences.
Speaking to media at the sideline while inaugurating the 500th branch of Kotak Mahindra Bank, the deputy governor said that considering the performance of Kotak Mahindra Bank, “it would give them (members of the committee to scrutinise application for banking licence) confidence that nonbank finance companies could get licences.”
Speaking to media at the sideline while inaugurating the 500th branch of Kotak Mahindra Bank, the deputy governor said that considering the performance of Kotak Mahindra Bank, “it would give them (members of the committee to scrutinise application for banking licence) confidence that nonbank finance companies could get licences.”
The RBI has set up the committee, headed by former central bank
governor Bimal Jalan committee, to scrutinise applications for new bank
licences, which are expected to be awarded by January.
However deputy governor clarified that the selection panel will take a call on the issue as they would be screening the applicants.
Kotak Mahindra Bank was an NBFC before it received a banking licence 10 years ago. Several NBFC such as IDFC, and LIC Housing Finance have applied for banking licences.
However deputy governor clarified that the selection panel will take a call on the issue as they would be screening the applicants.
Kotak Mahindra Bank was an NBFC before it received a banking licence 10 years ago. Several NBFC such as IDFC, and LIC Housing Finance have applied for banking licences.
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