ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Extending Private Banking

Following the reiteration in the Union Budget of the decision of the government and the central bank to issue new bank licences, the union cabinet has approved certain amendments to the Banking Regulation Act in order to enlarge the influence of private promoters. A year after the proposal was first made and months after the issue of a Reserve Bank of India discussion paper, the purpose of licensing new private banks remains unclear.

HT PAREKH FINANCE COLUMN

The argument, often made by former

Extending Private Banking

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