FinMin to nudge RBI to issue new bank licenses

The finance ministry will urge the Reserve Bank of India to issue licences for new banks without waiting for changes in the Banking Regulation (BR) Act, on the ground that the regulator has sufficient powers under the Companies Act to discipline errant lenders.

http://economictimes.indiatimes.com/news/economy/policy/finance-ministry-to-nudge-rbi-to-issue-licences-for-new-banks/articleshow/16745119.cms

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