Reserve Bank of India (RBI) would shortly come out with draft norms on new banking licences, a senior RBI official said.

"RBI will shortly come out with draft guidelines on new banking licenses", B Mahapatra, CGM in-charge of Department of Banking Operations and Development, RBI, said.

Last year, RBI circulated a discussion paper on new banking licences which said that corporates and NBFCs would be allowed to promote banks.

The apex bank had already circulated the discussion paper on deregulation of savings rates, Mahapatra said here today.