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Bank License to Big Business Houses - Increase

Bank License to Big Business Houses - Increase

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Published by akankshajn89

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Categories:Types, Business/Law
Published by: akankshajn89 on Dec 15, 2010
Copyright:Attribution Non-commercial

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12/15/2010

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AKANKSHA JAINAMBIKA GUPTAPRATEEK GUPTASYED MUSTANIR SHAH
BANK LICENSE TO BIG BUSINESS HOUSES -INCREASE IN PRIVATE SECTOR BANKS
 
INTRODUCTION
The Union Finance Minister, in his budget speech for the year 2010-11 had
announced
th
a
t
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.·
 
A wi
der
 
d
ist
r
ib
u
ti
on
 
and
 
acce
ss
of 
 
i
nanc
i
al
s
erv
i
ce
s h
elp
s b
o
th
con
s
umer
s
and
 
producer
s
ra
is
e
 th
e
i
r
w
elfare
 
and
 
produc
ti
v
ity. it
prov
i
de
s th
em
 
oppor
t
un
iti
e
s t
o
b
u
i
ld
s
av
i
ng
s,
make
i
nve
st
men
ts,
ava
i
l
 
cred
it,
and
 
more
i
mpor
t
an
t, i
n
s
ure
th
em
s
elve
s
aga
i
n
st i
ncome
sh
ock
s
and
 
emergenc
i
e
s.
As
of 
M
arc
h 31, 2009, th
e
I
nd
i
an
b
ank
i
ng
syst
em
 
compr
is
ed
27
pu
 b
l
i
c
s
ec
t
or
b
ank
s, 7
ne
w
pr
i
va
t
e
s
ec
t
or
b
ank
s, 15
old
 
pr
i
va
t
e
s
ec
t
or
b
ank
s, 31
fore
i
gn
b
ank
s, 86 R
eg
i
onal
R
ural
B
ank
s(RRBs), 4 L
ocal
A
rea
B
ank
s (LABs), 1,721
ur
 b
an
 
coopera
ti
ve
b
ank
s, 31 st
a
t
e
 
co-opera
ti
ve
b
ank
s&371
d
ist
r
i
c
t
cen
t
ral
 
co-opera
ti
ve
b
ank
s.
Th
oug
h th
e
I
nd
i
an
 
i
nanc
i
al
syst
em
h
a
s
made
i
mpre
ssi
ve
st
r
i
de
s i
n
 
re
s
ource
 
mo
 bi
l
iz
a
ti
on
,
geograp
hi
cal
 
and
 
func
ti
onal
 
reac
h,
i
nanc
i
al
 
v
i
a
 bi
l
ity,
prof 
it
a
 bi
l
ity
and
 
compe
titi
vene
ss,
va
sts
egmen
ts
of 
th
e
 
popula
ti
on
,
e
s
pec
i
all
y th
e
 
underpr
i
v
i
leged
s
ec
ti
on
s
of 
th
e
s
oc
i
e
ty, h
ave
sti
ll
 
no
 
acce
ss t
o
 
formal
b
ank
i
ng
s
erv
i
ce
s.
W
HY NE
W
BANKS IN INDIA

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