The Reserve Bank Of India (RBI) Governor Duvvuri Subbarao announced on Thursday that every companies who possess eligibility that have applied for bank licences will be bestowed one. Beforehand this week, the RBI said it had received 26 applications for new bank licenses.

RBI Governor Subbarao also said an elevation in non-performing assets at lenders was a matter of anxiety, on the contrary added that banks were well capitalised throughout the duration of a media briefing at the conclusion of the central bank's board meeting. RBI does not plan to pay interest on the mandatory cash reserves that lenders hold at the central bank, he added.

(AW:Samrat Biswas)