Committee Chairman for New Bank Licenses

The Reserve Bank of India (RBI) periodically forms committees to look into various aspects of the banking sector. One such important task is examining applications for new bank licenses. When new guidelines for licensing of new banks were announced, a committee was needed to evaluate the applications received from various entities.

This committee was tasked with scrutinizing the eligibility and suitability of the applicants based on the detailed guidelines provided by the RBI. The process was crucial for ensuring that only fit and proper entities were granted licenses to operate as banks, thereby maintaining the stability and integrity of the financial system.

Bimal Jalan Committee

To handle this significant responsibility of examining the applications for new bank licenses under the new guidelines, the Reserve Bank of India constituted an External Advisory Committee. The chairmanship of this crucial committee was entrusted to Dr. Bimal Jalan.

• Dr. Bimal Jalan is a renowned economist and former Governor of the Reserve Bank of India.
• His experience and expertise in monetary policy, finance, and banking regulation made him a suitable choice to head the committee responsible for evaluating prospective new banks.
• The committee included other distinguished members from various fields.

Therefore, the chairman of the committee formed to examine the applications for new bank licenses was Bimal Jalan.