MUMBAI : The Reserve Bank of India may miss the January deadline it has set to issue new bank license, Governor Raghuram Rajan told TV channel ETNow on Monday.

“I did say that we will try and do it around time of (Deputy Governor) Mr Anand Sinha’s retirement, but I think it will take a little more time than that. But I am hopeful not much more,” Rajan said.
In October, the RBI had set up an external panel, headed by former governor Bimal Jalan, to make recommendations on the assigning of new banking licences. Recently, Jalan had said that the RBI would award the new bank licences three months after screening applications.
Rajan reiterated that the central bank was doing all the necessary due diligence, including collection and verification of information with other regulators and government agencies.
“We are very conscious of the fact that this has to be not only actually clean but also seen to be clean and transparent,” Rajan said.
Rajan also said that there was a need to make public sector banks to be able to compete on a level playing field. -Cogencis

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