India cbank to publish clarifications on new bank licences

MUMBAI, March 7 Thu Mar 7, 2013 4:09am EST

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MUMBAI, March 7 (Reuters) - The Reserve Bank of India said it would publish clarifications related to the recently released final rules on bank licences on its website as it had received several queries from applicants seeking more details.

"Considering that the clarifications sought would be of wider interest and use for all intending applicants, the Reserve Bank has decided to post the clarifications on its website. The identity of those who raise queries would be kept confidential," the central bank said on Thursday.

The central bank asked applicants to send the queries by April 10.

The RBI on Feb. 22 announced rules that would allow any type of company to apply for a banking licence, paving the way for India's first new banks since the formation of Yes Bank in 2004. (Reporting by Suvashree Dey Choudhury)

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