RBI Constitutes New Advisory Committee for Bank Licensing:
The Reserve Bank of India (RBI) established a new Standing External Advisory Committee (SEAC) to evaluate applications for Universal Banks and Small Finance Banks (SFBs). This committee is chaired by former RBI Deputy Governor M. K. Jain and comprises five members.
The SEAC includes:
- M. K. Jain: Chairperson and former Deputy Governor, RBI.
- Revathy Iyer: Director, Central Board, RBI.
- Parvathy V. Sundaram: Former Executive Director, RBI.
- Hemant G. Contractor: Former Managing Director of State Bank of India and former Chairman of the Pension Fund
- Regulatory and Development Authority.
- N. S. Kannan: Former Managing Director and CEO of ICICI Prudential Life Insurance.
