RBI deputy expects bank licence rules 'very soon'

Says consultations with the finance ministry are nearing an end

The RBI is expected to issue new bank licence guidelines "very soon", deputy governor Anand Sinha said on Friday.

The Reserve Bank of India will arrive at a mutual decision on banking licence rules with the finance ministry, and consultations with the ministry are nearing an end, he said.

Sinha added that there were risks in giving licences to corporates. He was speaking on the sidelines of an event on Basel III.