Written by Parthasarathi Biswas | Pune | Published on:April 10, 2015 2:24 pm
Governor of the Reserve Bank of India (RBI) Raghuram Rajan hinted that in the next two years, the apex bank might issue licenses for setting up of payment banks, small finance banks and possibly a postal bank. Rajan who was speaking at the 11th convocation of the National Institute of Bank Management (NIBM) in Pune also said the existing public sector banks would under go changes.“The banking sector in the country is full of opportunities and in the next two years we will see a number of changes. We are going to have a whole set of institutions, paymentbanks, small finance banks and possibly a postal bank. The public sector banks will so undergo tremendous change,” he said. The derivatives market and IT used in banking and by banking correspondents he said will also see a lot of change.
(the indian express)