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Reserve Bank's newly appointed deputy governor N S Vishwanathan today said the entry of new players in banking space should improve the credit culture.
FIPB, chaired by Economic Affairs Secretary Shaktikanta Das, will also consider the proposal of Aurobindo Pharma, One97 Communications, Advanced Enzyme Technologies and Macmillan Publishers International Ltd.
The panel will make its recommendations to the Governor and Deputy Governors, who will make the final proposals to the committee of the RBI central board.
The Reserve Bank is likely to complete initial scrutiny of 26 applications for new bank licences in a month, a senior RBI official said.
Soon after Raghuram Rajan took charge as the 23rd Governor of RBI, he had said that an external committee would be headed by former central bank Governor Bimal Jalan to screen the 26 applications for bank licences.
The Reserve Bank of India (RBI) received 26 applications from different institutions, which are in the fray to float banks. The last date of application for a new bank licence ended on Monday.
