Millennium Post

‘RBI to come out with paper on banking structure’

N The Reserve Bank of India (RBI) will come out with a paper on the banking structure in the country discussing issues like consolidation even as it prepares to issue new bank licences after a decade.

RBI will also involve enforcement agencies and tax authorities before it issues new bank licences to corporate entities for which applications can be made till 1 July.

'My take on that will be told very clearly when the  Reserve Bank of Indiacomes out with the paper. It's a paper about the banking structure for India. We are going to bring it out in the next one month where we will address these issues or at least define the issues for discussion,' RBI Governor D Subbarao said. He was replying to a question about Finance Minister P Chidambaram talking about consolidation of banks at a time when new bank licences are on the anvil.
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