The largest microfinance institution of the country, SKS Microfinance has no plans to enter into banking, confirmed a top official of the company.

It was earlier said that SKS is keen on getting a bank license.

"We have no plans to enter into banking. However, we (MFIs) are happy with the step the Government has taken. It will provide more access to MFIs and also the common man," SKS Microfinance's Founder and Chairman, Vikram Akula said.

RBI had asked interested parties and institutions to submit their feedback and suggestions on the draft guidelines for new bank licenses.