The Finance Ministry on Thursday said more players will soon get bank licences as the RBI will come out with fresh norms on new bank licences in the next four months.
"Hopefully, in next few months RBI will start inviting applications.RBI will take 4-5 months for preparing the new set of guidelines for on-tap and for differentiated banks," said Financial Services Secretary G S Sandhu.
In April, the Reserve Bank of India (RBI) had issued bank licences to IDFC and Bandhan Financial Services, out 25 applications.
After an hour-long presentation to Finance Minister Arun Jaitley, Sandhu said: "RBI will take 4 months to draft new guideline and then invite applications."
India Post was one among the 25 unsuccessful contenders for new bank licences.
The applicants also included state-run IFCI and private sector Anil Ambani group and Aditya Birla group, Bajaj Finance, Muthoot Finance, Religare Enterprises and Shriram Capital.