More bank for the buck

Given India’s growing credit needs and poor spread of banking—almost half the country’s population doesn’t have access to banking facilities—it is just as well that the process of giving out new banking licences has reached the penultimate stage. The last time the Reserve Bank of India (RBI) gave out licences was 10 years ago; in the round before that, several licences were handed out but unfortunately there were also a couple of casualties.

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