RBI sets up external advisory committee for evaluating banking applications

The committee set up by the RBI has five members with Shyamala Gopinathan, former deputy governor, RBI as the chairperson

The Reserve Bank of India (RBI) on Monday set up a standing external advisory committee, which will evaluate applications for universal banks and small finance banks (SFBs). The committee has five members, with former RBI deputy governor Shyamala Gopinath as the chairperson.
 
Other members include Revathy Iyer, director, central board, RBI; B Mahapatra, former executive director, National Payments Corporation of India; T N Manoharan, former chairman, Canara Bank; and Hemant G Contractor, former MD, State Bank of India, and former Chairman, Pension Fund Regulatory and Development Authority.
 
The panel will have a tenure of three years. “The secretarial