Bank licences

.....The RBI seems to have sidelined its guidelines because of its reluctance to issue new banking licences. India survived the financial and banking crises in recent years because of the bitter lessons that it had learnt in banking in the 1950s. Reducing the number of banks almost to a fifth of its original number paved the way for better control over the system. Hence, the RBI is well-advised to issue new licences with adequate preparatory steps.......

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