........The intervention is significant because RBI Governor Raghuram Rajanhad set January 2014 as the deadline for awarding these licences. And, the availability of "due-diligence" reports on these companies are critical for the committee set up under former governor Bimal Jalan to meet that deadline. The need for these reports to be completed becomes more crucial as the committee is expected to carry out the first-level screening of applications to set up new private banks at its second meeting, scheduled for December 16........
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