New bank licence guidelines in final stage - RBI chief

Last Updated: Tue, Jan 29, 2013 11:15 hrs

The RBI is close to finalising the guidelines for new bank licences, Duvvuri Subarao, the governor of the Reserve Bank of India said on Tuesday.

The central bank has responded to the government's recommendations, and is awaiting New Delhi's response on the points raised by the RBI, Subbarao said.

Earlier in the day, the central bank cut the key repo rate and banks' cash reserve ratio by 25 basis points each.

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