........ The increase in number of banks would lead to more competition and better pricing for the retail customer both for deposit as well as credit products as the newer banks innovate to garner market share. Overall the Bill provides an enabling environment for the regulator and the development and growth of the banking sector.
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Great expectations! Let us pray, some of them come true over time. If the experience of the new generation private sector banks now in existence is any guidance, further addition to their number does not give much reason for hope. Let us assume that replacements for those got merged/closed among this category really take shape in around three years from now. Beyond some changes in deployment of high-value deposits and transfer of some ‘captive’ accounts to new banks, one need not expect any revolutionary changes in the functioning of banks in general or attitude of banks to clientele in particular. The new banks may pave the way for strengthening the prevailing resistance from private sector banks to small accounts and the so-called priority sector lending.
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