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As five micro finance institutions are also applying for bank licence. So, the final tally at the end of July 1 could go beyond three dozen...

The race for applying for banking licence has intensified with Bajaj Finserv entering the fray.

L&T Finance, Shriram Transport, LIC Housing and the other corporate houses like ABNL have a very high chance of getting a banking licence.

The Reserve Bank is likely to issue by early next month clarifications on new bank licence guidelines as sought by interested entities.

RBI has been flooded with requests for interpretation of its rules for grant of new banking licences and for clarifications on the 'ambigui...

Some committee members also dissented with RBI seeking feedback on applicant groups from investigative agencies like Income Tax, CBI and ED.

Clarifications range from procedural issues like the details to be provided in the licence application forms, issues concerning exact time.

The Reserve Bank today said financial inclusion plan will be an important criteria for getting new bank licences in the private sector.

" We are very happy that the RBI has come out with the guidelines which are obviously very progressive."

The Reserve Bank may not issue more than five new bank licences as the central bank wants to be very selective initially, analysts said.

"We have written to the RBI and hope that the RBI will pick up the thread and finalise the guidelines," Chidambaram said.

The finance ministry will clear norms for new bank permits by next week, potentially setting the stage for the RBI to roll out licences aft...