Investors line for new banking licenses

Applicants under guidelines for ‘on tap’ Licensing of Universal Banks are:UAE Exchange and Financial Services Limited,The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank),Chaitanya India Fin Credit Private Limited,Pankaj Vaish and others

 

Mumbai:

The Reserve Bank of India on Thursady, released the names of applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks.

Applicants under guidelines for ‘on tap’ Licensing of Universal Banks are:UAE Exchange and Financial Services Limited,The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank),Chaitanya India Fin Credit Private Limited,Pankaj Vaish and others

Applicants under guidelines for ‘on tap’ Licensing of Small Finance Banks are:VSoft Technologies Private Limited,Calicut City Service Co-operative Bank Limited,Akhil Kumar Gupta,Dvara Kshetriya Gramin Financial Services Private Limited

It may be recalled that the guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the private sector, were issued on August 1, 2016 and December 5, 2019 respectively.

The RBI has constituated a Standing External Advisory Committee for evaluating the applications received by it.

 


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