The RBI had issued guidelines for licensing of new banks in the private sector in February, this year (See http://rbidocs.rbi.org.in/rdocs/Content/PDFs/GFLNB2222013.pdf). The guidelines stated that there was a need for an explicit policy on banking structure in India, keeping in view the recommendations of the Narasimham Committee, and Raghuram Rajan Committee. It was, therefore, announced in...
