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Bank licence aspirants will have to comply with all the guidelines set by the central bank , RBI Deputy Governor Anand Sinha has said. According to reports, some applicants had asked for a special dispensation from the central bank, exempting them from some mandatory requirements.
“They (applicants) have been given a transition period, so we expect them to comply with all the requirements... All applicants have to meet our (RBI) standards and that is all I can say right now,” said Sinha on the sidelines of a financial inclusion conference organised by industry body FICCI here on Monday. With regard to a special consideration for India Post or other applicants, Sinha said, the RBI is in the process of forming a committee. “The committee’s work will start once the internal scrutiny is over... It is only after the scrutiny that we can take a definite view.”
On processing of the applications, Sinha said, “It is quite an extensive one because now we are looking at corporates as well. So, the workload is quite heavy in that sense.”
MFIs rejig
On the microfinance institutions’ demand for a second round of restructuring, Sinha said the RBI’s stand is clear that it should not encourage it. Some requests have come and the RBI is looking at them. “Let me clarify, we do not stop second time restructuring but what we say is that the asset classification benefits will not be available. We don’t stand in the way of restructuring,” Sinha clarified.
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