RBI to Issue Guidelines for On-Tap Banking Licences in FY15: Deputy Governor

Reserve Bank of India (RBI) Deputy Governor R. Gandhi on Thursday said the apex bank is likely to issue guidelines for issuing of "on-tap" bank licences in 2014-15.

The comment comes a month after the RBI granted two preliminary licences to set up new banks.

Alongside, the RBI is also expected to issue guidelines on differentiated bank licences in the current financial year, Mr Gandhi added.

On-tap licensing means that the RBI window for granting banking licences will be open through the year.

Last month, the RBI gave bank licences to IDFC Ltd, and Bandhan Financial Services, opening the door for allowing new banks for the first time since 2004.

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