The Reserve Bank should come up with entry norms for issuing new banking licences, the chairman of Prime Minister's Economic Advisory Council C Rangarajan said here today. "If the domestic banking system is to remain competitive over time, there should be periodic entry of new banks. A closed system can only become oligopolistic. "Such a threat should now be eliminated and the central bank should lay down entry norms and also decide on who satisfies the criterion," Rangarajan said at banking award function organised by commodity bourse MCX.....
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Thursday, October 18, 2012
Rangarajan Bats for New Banks
The Reserve Bank should come up with entry norms for issuing new banking licences, the chairman of Prime Minister's Economic Advisory Council C Rangarajan said here today. "If the domestic banking system is to remain competitive over time, there should be periodic entry of new banks. A closed system can only become oligopolistic. "Such a threat should now be eliminated and the central bank should lay down entry norms and also decide on who satisfies the criterion," Rangarajan said at banking award function organised by commodity bourse MCX.....
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