Drop plan on new banks, Finance panel tells RBI chief - Business Line

Drop plan on new banks, Finance panel tells RBI chief - Business Line

Though the concerns expressed by the Parliamentary Standing Committee 
on Finance would appear normal in the present confused situation, they 
raise issues much deeper than whether or not applications for the new 
bank licenses should be received now or later or who should start a 
new bank in the private sector. 
The way in which the issue is handled gives a feeling that ‘bank’ is a 
product which can be hoarded or sold guided by public opinion 
dominated by the will of those who can afford to invest the needed 
capital. This position has evolved over time, because of the manner in 
which new bank licenses were issued to the so called ‘new generation’ 
private sector banks. 
Those who are responsible for policy formulation should adopt a 
pragmatic approach and come out with transparent norms, which,if 
complied, should enable any Indian applicant with the wherewithal and 
skill and other needed resources to make an application to start a 
bank.Final decision should be left to RBI.
from:  M G WARRIER
Posted on: Apr 10, 2013 at 09:19 IST

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