India: RBI puts bank licences on tap, excludes big groups

India: RBI puts bank licences on tap, excludes big groups

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. REUTERS/Danish Siddiqui/File Photo

Universal bank licences will now be available on tap, with the Reserve Bank of India (RBI) on Monday releasing the final set of guidelines for eligible entities to apply for licences as and when they choose to, and keeping the doors closed to large business houses.

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