New Delhi, Mar 15 (PTI) Finance Ministry has received draft guidelines on the new banking licence from the Reserve Bank, which is expected to make it public by the end of this month. “RBI is planning to issue the guidelines for banking licences before the close of this financial year,” Finance Minister Pranab Mukherjee had said in the Budget speech last month. After the Finance Minister’s announcement in 2010-11 Budget, the Reserve Bank had brought out a discussion paper in August 2010 on dispensing banking licences to business houses and non-banking finance companies, besides regulations for the same to foster greater competition.
Various entities like Reliance Capital, IndiaBulls, Religare, IL&FS, IFCI and Aditya Birla Financial Services are reported to be mulling entering the banking space.
