....The new banks will come up only 18 months after March 31, 2014, when a high-level committee (comprising top RBI officials and heads of public sector banks) approves the applications. The RBI is expected to be very stringent with the applications and could also look into the books of those who have applied for the bank licences. This is to prevent any siphoning of deposits or funds by the new banks into the applicants’ primary or other businesses. Meanwhile, most of the established players seem to be gung-ho about the new developments...........
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