3-member panel headed by Jalan to study new bank licences

The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by by January.

"We have set up the committee under Bimal Jalan for bank licences,Usha throat (former RBI governor) C B Bhave (former Sebi chairman) and Nachiket Mor (financial sector expert)...We will try our best to do it by January 2014," RBI Governor Raghuram Rajan said at a press conference here after a board meeting.