Central bank for public debate on second draft

The Reserve Bank of India (RBI) yesterday announced that it would "place a second draft of the policy in public domain for further debate," based on the feedback it had received so far, two days after it announced the first draft of its "comprehensive policy framework for ownership and governance of private banks" on July 2.

The central bank does not usually declare so quickly that a second draft of a policy will be publicly debated.

But the RBI said in a statement on its website that it had "received several suggestions and queries from market participants and the media on its draft policy framework for ownership and governance of private banks".

In its statement, the central bank said: "The Reserve Bank welcomes valuable suggestions and feedback. Anyone who wishes to seek clarifications or make suggestions on the draft policy is welcome to post them here."