The panel that is entrusted with the task of scrutinising applications for new bank licences will hold its meeting on Monday.“We are having meeting on December 16 in Delhi,” former RBI Governor Bimal Jalan, who is heading the panel, told the news agency.
The committee held its first meeting on November 1. The other members of the high-level advisory committee (HlAC) are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI.
Initially, 26 entities evinced interest in entering the banking arena. Tata Sons, the holding company of Tata group, withdrew its application last month leaving 25 players in the fray.
Public sector units India Post and IFCI, private sector Anil Ambani Group and Aditya Birla group submitted applications on July 1.The RBI issued guidelines for licensing of new banks on February 22 and issued clarifications in the first week of June.
In the past 20 years, the RBI licensed only 12 banks in the private sector in two phases. Ten banks were licensed on the basis of guidelines issued in January 1993.