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New bank licences likely by March 31: Govt official

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First published: June 4, 2013, 11:32 AM IST | Updated: June 4, 2013
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New bank licences likely by March 31: Govt official
The RBI said it had extended the validity of in-principle approval for new banks to 18 months from one year.

Mumbai: India is likely to give new bank licences by March 31, 2014, Rajiv Takru, secretary of financial services, told a local news channel on Tuesday.

On Monday, the Reserve Bank of India (RBI) said it had extended the validity of in-principle approval for new banks to 18 months from one year.

More details are awaited.

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