ibnlive » Business

Jun 04, 2013 at 11:32am IST

New bank licences likely by March 31: Government official

Mumbai: India is likely to give new bank licences by March 31, 2014, Rajiv Takru, secretary of financial services, told a local news channel on Tuesday.

On Monday, the Reserve Bank of India (RBI) said it had extended the validity of in-principle approval for new banks to 18 months from one year.

More details are awaited.

New bank licences likely by March 31: Govt official

The RBI said it had extended the validity of in-principle approval for new banks to 18 months from one year.

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