RBI considering more licences for opening new banks: Mukherjee

The Reserve Bank of India is considering more licences to promoters, including those operating Non Banking Financial Companies (NBFCs), to open new banks in the country, Finance Minister Pranab Mukherjee said today.

The Reserve Bank of India is considering more licences to promoters, including those operating Non Banking Financial Companies (NBFCs), to open new banks in the country, Finance Minister Pranab Mukherjee said on Friday.

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"The RBI is considering new bank licences to promoters in the private sector and also NBFCs if they meet the eligibility criteria of the RBI," Mukherjee said while presenting the annual budget for 2010-11 in the Lok Sabha.

This would offer an opportunity to many leading Indian corporate companies to foray in banking business.

Finance companies like Indiabulls, Reliance Capital and a few others have already expressed their interest to venture into banking business.