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UPDATED Tue Jul 2 5:26:45 EDT 2013 Back
No ceiling on number of new bank licences: Chidambaram
No ceiling on number of new bank licences: Chidambaram: 

NEW DELHI: With 26 public and private sector companies applying for bank licences, finance minister P Chidambaramhas said that there was no ceiling on the number of entities which can be permitted to operate a bank.

"I don't think there is a ceiling. I don't think there is a number in mind. It all depends upon how many applicants are eligible applicants. The fact that somebody applies doesn't mean he is an eligible applicant," he said in an interview.

"If there are very few eligible applicants, then the number of banks that will get licences will also be few. I don't think that the governor has any ceiling in mind," he said.