The long awaited draft guidelines on new banking licenses have been issued by RBI now.
On surface it is an interesting effort to balance the business rationale (of alowing corporates into banking) with the governance imperatives (of preventing conflict of interest situations).
Apparently, the leading contenders for the new licenses (the number has not been divulged yet by RBI) are M&M, L&T, SREI, AV Birla Nuvo. It would be interesting to see the final list of licensees!
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