The Union Finance Minister, in his budget speech for the year 2010-11 had
The Indian banking system has emerged unscathed from the crisis. We need to ensure that the banking system grows in size and sophistication to meet the needs of a modern economy.
There is a need to extend the geographic coverage of banks and improve access to banking services.
Therefore,RBI is considering giving some additional banking licences to private sector players. Non BankingFinancial Companies could also be considered, if they meet the RBI·s eligibility criteria.·