India considers issuing 1st banking licences since 2014
For the first time since 2014, India is planning to hand out new banking licenses—a move that could shake up how money flows and grows in the country.
The Finance Ministry and RBI are talking about letting big companies apply (with limits on how much they can own) and encouraging finance companies to become full banks.
The goal? A stronger, more flexible banking system that can better support India's growing economy.
PM Modi has vision for India by 2047
There's talk of easing old rules that kept large business groups out of banking, but with safeguards to avoid risky ownership.
Smaller banks could be merged into bigger ones, and foreign investment caps in state-run banks might get a rethink.
All this ties into PM Modi's long-term vision: ramping up bank lending so India can fund huge infrastructure projects and hit major economic milestones by 2047.
Nothing's final yet, but these changes could make borrowing—and building—easier for everyone.