RBI to give only 5 new licences?

The Reserve Bank of India (RBI) may not issuemore than five new bank licences as the RBI wants to be very selective initially, Standard Chartered and Bank of America Merrill Lynch said in a report.

The Reserve Bank of India (RBI) may not issuemore than five new bank licences as the RBI wants to be very selective initially, Standard Chartered and Bank of America Merrill Lynch said in a report.

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Goldman Sachs said the pool of eligible applicants may be limited as the RBI will be cautious in giving out licences.