Subjectivity in bank licences, says D K Mittal
New bank licences are to remain subjective, according to former banking secretary Dinesh Kumar Mittal. Mr Mittal says that the Reserve Bank of India (RBI) has maintained its stance of not giving in to the wishes of prospective applicants to ease conditions, and has also failed to define two key measures on which a bank licence would be granted – "fit and proper" persons, and businesses "misaligned with the banking model".
