Indian banking is all aflutter. Last month the country’s central bank finally unveiled the rules under which it plans to hand out new bank licences for the first time in a decade.
Dozens of companies, including many of those led by India’s most celebrated corporate elite, are now busying themselves with applications.
The process ought to bring about a welcome shake-up of India’s banking industry, introducing fresh blood into a sector struggling to provide the financing its nation needs for future decades of rapid growth.
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