RBI moots new bank licences to increase competition

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The Reserve Bank of India (RBI) on Wednesday said it plans to supply more banking licences to new entrants in a bid to make financial services more widely available to the public.

The central bank said it was considering providing licences to a limited number of new banks, but said that they would be subject to higher capital requirements. It said the new banking licences would foster financial inclusion and greater competition in a country where a large portion of the population lacked basic ba

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