New bank licences in a few weeks: RBI Governor Raghuram Rajan

NEW DELHI: India will hand out licences for setting up new banks in a few weeks after a go-ahead from the Election Commission, Reserve Bank Governor Raghuram Rajan said on Friday. 

"Yes, we will ask EC to make sure, because it's an important issue. The process has taken place last year. In that sense, it's nothing new. But certainly we would want them (EC) to be okay," Rajan said at a press conference, which he addressed jointly with Finance Minister P Chidambaram, after a meeting of the central bank's board in New Delhi.  

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