Friday , November 25 2016
Home / Business / Financials / Small finance bank licences in few days: RBI

Small finance bank licences in few days: RBI

mundra

Reserve Bank of India (RBI) Deputy Governor S.S. Mundra on Wednesday said the small finance bank licences will be announced in the next few days.

“We will announce the small finance bank licences in the next few days,” Mundra said at “The Economist” magazine’s annual conference here.

A total of 72 applications had been submitted to the RBI for setting up small finance banks which would be allowed to undertake both lending and deposit taking to unserved and underserved sections.

Replying to a question, the deputy governor said the RBI was closely monitoring the economic conditions and would go for slashing interest rate as and when the situation is conducive.

“If the situation and all other things are conducive, RBI will take the rate action,” Mundra said.

(IANS)