India cbank to issue guidelines for on-tap banking licences in FY15: deputy

MUMBAI Thu May 8, 2014 7:35am EDT

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MUMBAI May 8 (Reuters) - The Reserve Bank of India is likely to issue guidelines for issuance of "on-tap" bank licences in 2014/15, RBI Deputy R. Gandhi said on Thursday, a month after the central bank granted two preliminary licences to set up new banks.

Alongside, the RBI is also expected to issue guidelines on differentiated bank licences in the current financial year, Gandhi said.

On-tap licensing means that the RBI window for granting banking licences will be open through the year.

Last month, the RBI gave bank licences to IDFC Ltd , and Bandhan Financial Services, opening the door for allowing new banks for the first time since 2004. (Reporting by Suvashree Dey Choudhury; Editing by Anand Basu)

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