The RBI Governor said that the approval for bank licence was given to two applicants found to be the most suitable.
On April 2, the RBI had announced in-principle nod for bank licences to infrastructure company IDFC and Kolkata-based micro-financer Bandhan Financial Services.
ApplicantsThere were 25 (of an original 27) applicants in the fray, including companies such as Bajaj Finance, Reliance Capital and Aditya Birla Nuvo.
“This was the set of applicants that the Jalan Committee as well as the RBI felt comfortable with.
“We have opened up the possibility that applicants can apply again once we put the licences on tap, as well as we create differentiated licences. Some of the applicants may be better off applying for a differentiated licence rather than the full licence,” he said.