New bank licence: Will Jaitley take a view contrary to Yashwant Sinha’s

.....In fact, RBI Governor Raghuram Rajan had later observed that the ones who did not make it were probably more suited to be a different kind of bank. In January this year, the RBI-appointed Nachiket Mor committee had recommended giving out licences to entities that could focus either on payments or on collecting deposits, in an effort to widen the delivery of financial services. The drive to issue more licences to open banks was set in motion first by the then finance minister Pranab Mukherjee. This was also done with the intent of furthering the agenda of financial inclusion in a country where more than half the population have no access to banking services. The Narendra Modi-led Government will now be in a spot on whether to hand out more banking licences, especially to corporates.......

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