Interesting banking times ahead

The much-awaited norms for awarding new bank licences are out and RBI has been judicious and pragmatic in laying down the criteria. The field is open to anyone with a good track record who can bring in the necessary capital of R500 crore and falls in line with priority sector lending and meet the ‘inclusive banking’ norms of having 25% branches in unbanked areas (population of less than 9,999).

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