The committee headed by Bimal Jalan will include Usha Thorat, Chandrakant Bhave and Nachiket Mor
GN Bureau | October 4, 2013
A three-member external committee to recommend granting of new banking licences was finalised by the reserve bank of India (RBI) on Friday.
Apart from former RBI governor Bimal Jalan, whose name was announced earlier as the panel head, the committee will include former deputy governor of RBI Usha Thorat, former securities and exchange bureau of India chairman Chandrakant Bhave and Nachiket Mor, director on the RBI central board.
The apex bank governor Raghuram Rajan reiterated that a decision on the new bank licences will be taken by January next year.
In addition, Rajan also announced that a task force would be set-up to ensure that payments made by the state government would be done through the electronic mode.
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