Subsequently, the draft guidelines on “Licensing of New Banks in the Private Sector” were framed taking into account the experience gained from the functioning of the banks licensed under the guidelines of 1993 and 2001 and the feedback and suggestions received in response to the Discussion Paper and in consultation with the Government of India.
The draft guidelines were placed on the RBI’s website on August 29, 2011 for comments. 17. The comments received on the draft guidelines were examined.