Press Esc to close
Thursday 28 May 2015
News updated at 2:18 AM IST
Weather
Max: 33°C
Min : 22.3°C
In Bengaluru
Sunny day

Expert panel to screen bank licence applications soon

New Delhi, Aug 11, 2013, PTI :

The Reserve Bank of India will soon set up a high-level panel of eminent experts from the banking and financial sector to screen applications of 26 aspirants for new banking licences.

The High Level Advisory Committee (HLAC) will not have any members from the RBI but will comprise of eminent persons with experience in banking, financial sector and other relevant areas, sources said.

It is expected that the member of this panel would be drawn from other financial regulators like IRDA, Sebi and PFRDA. Besides, some top official from the government may also be invited to join the committee.

In the 2001 round of guidelines for the new licences, the then-HLAC members were C G Somiah former CAG, I G Patel, former RBI Governor and Dipankar Basu former head of State Bank of India.

RBI, sources said, is currently screening the prima facie eligibility of the applicants including ‘fit and proper’ criteria and other relevant parameters. As RBI is continuing its scrutiny process, there will be change of guard at the central bank with Raghuram Rajan taking over as 23rd Governor on September 5.

He will succeed the incumbent D Subbarao. After the screening applications by the RBI they will be referred to the high level panel for their scrutiny. The panel will have its own procedures for screening the applications.

The Committee will reserve the right to call for more information as well as have discussions with any applicants and seek clarification on any issue as may be required by it. The Committee will submit its recommendations to RBI for consideration.

However, the decision to issue an in-principle approval for setting up of a bank will be taken by RBI.


Go to Top

Photo Gallery
Sheep cross a parched area of a dried-up pond on a hot summer day...

Sheep cross a parched area of a dried-up pond on a hot summer day...

A man sleeps under the shade of a tree on a hot summer day at a public park in New Delhi...

A man sleeps under the shade of a tree on a hot summer day at a public park in New Delhi...

Boys splashing water on their face as the mercury rises in Hyderabad...

Boys splashing water on their face as the mercury rises in Hyderabad...

An Indian man rests inside a concrete pipe on a hot summer day in Hyderabad...

An Indian man rests inside a concrete pipe on a hot summer day in Hyderabad...

Yaduveer Krishnanadatta Chamaraja Wadiyar at a ritual in Mysore on Wednesday...

Yaduveer Krishnanadatta Chamaraja Wadiyar at a ritual in Mysore on Wednesday...

Kannada Actress Nitu at the launching of the Taxi always.com service...

Kannada Actress Nitu at the launching of the Taxi always.com service...

Fruit festival in Bengaluru...

Fruit festival in Bengaluru...

Houses in flames during a violence in Atali Village near Ballabgarh in Faridabad...

Houses in flames during a violence in Atali Village near Ballabgarh in Faridabad...

Rahul Gandhi having meal at the house of a fisherman during a visit to the Blangad fishing colony..

Rahul Gandhi having meal at the house of a fisherman during a visit to the Blangad fishing colony..

Narendra Modi with Federal Defence Minister of Germany, Ursula von der Leyen in a meeting...

Narendra Modi with Federal Defence Minister of Germany, Ursula von der Leyen in a meeting...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523