Reserve Bank of India, RBI is planning to issue the first few new bank licences by this month-end, however the Central bank is waiting for Election Commission, EC's nod in this regard. Deputy Governor of RBI, KC Chakrabarty today said that RBI has written to the EC seeking their views on issuing new bank licences but they are yet to hear from the poll panel in this regard. Mr. Chakrabarty was speaking to reporters on the sidelines of a function in Mumbai.As many as 24 public and private sector applicants, including India Post, Industrial Finance Corporation of India (IFCI) and large business houses have applied for bank licences.Mr. Chakrabarty also defended the decision to allow more banks to import gold, saying the presence of more players will lead to lower cost and help the country's external balances. He said that if there is competition, gold will be imported at a lower cost. Whatever gold will be imported that will be cheaper, to that extent CAD (current account deficit) will improve.