The new bank licenses, up for grabs, are set to actuate a new era in tenacious Indian banking sector by inducing fresh blood in the markets. India is meticulously progressing in the global financial game that is dominated by the likes of Uncle Sams and John Bulls. If the question is does India need more ‘banking’ in its political territory? Then the answer is yes, from the view point of tapping humongous population involved in virtue of deposits and bolstering the high growth that is targeted by channelizing funds for progressive use and most importantly, making it inclusive. Succinctly put, India deals with a financing model that is predominantly bank-oriented, which is crippled by the absence of debt market and hence reckons on the banking system as a source for funds for both short and long term growth. India's economic growth continued despite some modest moderation, during the recent global recession that unearthed in notable advanced economies. RBI's cautious credit policy, kept the economy on growth track ensuring balance of price and financial stability.