Bagging a banking licence is going to become tough for corporates and finance firms with the Reserve Bank of India bent on pushing the financial inclusion goal. “It (getting a banking licence) will not be a cakewalk as it was in 1993-94,” said RBI deputy governor KC Chakrabarty. “This time, the opening of (new) banks is not so easy because we have got PSL (priority sector lending) norms, which are mandatory, and 25% of the branches have to be opened in unbanked sectors,” he said at a conference this week. ..........
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