The Reserve Bank of India (RBI) is cautiously opening up India's banking sector to companies. The RBI awarded two new licences in April after a gap of 10 years in a country where only one household in two has access to formal banking services.
The central bank will come out with fresh set of guidelines for companies applying for on-tap bank licences, or rolling applications that are assessed as they come, in the current fiscal year ending March.
"The sector's stability or risk appetite could be hit if any of the new players relax their underwriting standards or undercut prices to gain market share," said S&P.
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