The RBI’s stringent and binding guidelines for granting new licences will surely go a long way in addressing the apprehensions and reservations voiced by the lawmakers. It should serve as an eye opener to our MPs who are opposing the grant of new bank licences to industrial houses. The country certainly needs more banks and more players with substantial resources. Let us not forget that a good number of corporates in the country run their ventures with commendable business acumen and unimpeachable integrity. The entry of some of them into the banking sector will bring about a paradigm shift and usher in some welcome moves. The resultant competition will also invigorate the existing players to rise up to the challenge. All in all, bank customers stand to gain. Let them get their due.
- C. G. Kuriakose, Kothamangalam, Kerala HBL
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