The Finance Ministry, on Friday, said it hoped that the Reserve Bank of India would be able to issue licences for new private sector banks by the end of 2013-14 fiscal.
“There would be examination of applications (by the RBI and a high-power committee). I think with all going well, with all clearances, by the end of the financial year (2013-14) we will see some success,” Financial Services Secretary Rajiv Takru told reporters here.
He said the RBI guidelines aimed to “ensure that only responsible people enter the (banking) space.’’
Level-playing field
When asked if public sector entities hold edge over private corporates, the Secretary said there would be a level-playing field and the RBI would not show favour to any entity.
“It is a level-playing field. Whoever is eligible will get (licence). I don’t think the RBI is going to play any favourites, and we have no intention of any favourites being played,” Mr. Takru said.
