.....“The Commission has considered your request seeking guidance of the Commission whether it would be appropriate for you go ahead with the announcement of in-principle approvals for Banking licenses in view of the current enforcement of the Model Code of Conduct,”...............
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1 comment:
It is a welcome decision of the EC to allow the RBI to do it normal functioning. But, in issuing licences to two NBFC-MFIs viz., Bandan and Janalakshmi, RBI may well consider if by issuing licences to these two entities, they may lose the character of providing microfinance services to the unreached as they may limit it to the extent of priority sector commitment only. Then these would become another new generation banks with microfinance and financial inclusion becoming show-case activities and not prime activities as hitherto being done by these entities.
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