India cbank chief says RBI board committee to decide on bank licences

MUMBAI, April 2 Wed Apr 2, 2014 2:53am EDT

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MUMBAI, April 2 (Reuters) - The Reserve Bank of India Governor Raghuram Rajan said on Wednesday a final call on issuing new bank licenses would only be given after a decision is reached by the central bank board committee, without providing a specific timeline.

Rajan, in an interview with CNBC-TV18, also called issuing new bank licenses a "regulatory" process that should not come to an end because of a change in government.

On Tuesday, the election commission allowed the RBI to announce new bank licences even before the general elections conclude next month. (Reporting by Mumbai treasury desk; Writing by Neha Dasgupta; Editing by Rafael Nam)

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