Latin Manharlal Chat
BSE Prices delayed by 5 minutes...
     Prices as on May 12, 2021     
  ABB India 1403.5 [ 2.57% ]
  ACC 1883.3 [ -1.39% ]
  Ambuja Cements Ltd. 309 [ -1.87% ]
  Axis Bank Ltd. 691.3 [ -2.23% ]
  Bajaj Auto Ltd. 3878.55 [ -0.10% ]
  Bank of Baroda 77.45 [ 4.59% ]
  Bharti Airtel 561.8 [ -1.13% ]
  Bharat Heavy Ele 71.35 [ -2.73% ]
  Bharat Petroleum 449.2 [ -2.79% ]
  Cipla 898.7 [ 0.89% ]
  Coal India 153.5 [ -1.32% ]
  Colgate Palm. 1528.55 [ 0.00% ]
  Dabur India 529.25 [ 0.72% ]
  DLF Ltd. 265.4 [ -0.02% ]
  Dr. Reddy's Labs 5302 [ 0.16% ]
  GAIL (India) Ltd. 161.1 [ -0.46% ]
  Grasim Inds. 1412 [ -2.64% ]
  HCL Technologies 906.25 [ -0.10% ]
  HDFC 2438.7 [ -0.99% ]
  HDFC Bank 1399.5 [ -0.30% ]
  Hero MotoCorp 2841.85 [ 0.17% ]
  Hindalco Indus. 398.7 [ -3.43% ]
  ICICI Bank 594.95 [ -2.43% ]
  IDFC L 55.85 [ -0.53% ]
  Indian Hotels Co 116.1 [ -1.32% ]
  IndusInd Bank 917.25 [ -3.35% ]
  Infosys 1326.95 [ -0.28% ]
  ITC Ltd. 203.3 [ -0.37% ]
  Jindal St & Pwr 456.7 [ -4.19% ]
  L&T 1384.95 [ 0.09% ]
  Lupin Ltd. 1210.75 [ 1.10% ]
  Mahi. & Mahi 760.3 [ -1.97% ]
  MTNL 18.55 [ 0.00% ]
  Nestle India 16713.75 [ -0.93% ]
  NIIT Ltd. 168.8 [ -0.50% ]
  NMDC Ltd. 202.9 [ 3.05% ]
  NTPC 113.25 [ 0.53% ]
  ONGC 115.05 [ -2.54% ]
  Punj. NationlBak 37.1 [ 5.70% ]
  Reliance Inds. 1913.55 [ -1.04% ]
  SBI 367.85 [ 0.93% ]
  Vedanta 282.2 [ -2.20% ]
  Shipping Corpn. 115.4 [ -5.80% ]
  Sun Pharma. 702.65 [ -0.73% ]
  Tata Chemicals 722.35 [ 3.67% ]
  Tata Steel 1178.65 [ -4.48% ]
  Tata Power Co. 106.55 [ -2.47% ]
  Tata Consultancy 3088.5 [ -1.11% ]
  Tech Mahindra 962.1 [ -1.45% ]
  United Spirits 559.45 [ 0.81% ]
  Wipro Ltd 507.85 [ -2.01% ]

News Details

RBI receives 8 applications for setting up banks under "on tap" licensing

Back
19/04/2021 17:13
The Reserve Bank on Thursday said it has received four applications each under the guidelines for "on tap" licensing of universal banks and small finance banks.

UAE Exchange and Financial Services Limited, The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank), Chaitanya India Fin Credit Private Limited, and Pankaj Vaish and others, are the applicants under the guidelines for "on tap" licensing of universal banks. Applicants under guidelines for "on tap" licensing of small finance banks (SFBs) are VSoft Technologies Private Limited, Calicut City Service Co-operative Bank Limited, Akhil Kumar Gupta, and Dvara Kshetriya Gramin Financial Services Private Limited.

The guidelines for "on tap" licensing of universal banks and SFBs in the private sector were issued on August 1, 2016 and December 5, 2019, respectively.

As per the guidelines, the initial minimum paid-up voting equity capital for a universal bank should be 500 crore. Thereafter, the bank should have a minimum net worth of Rs 500 crore at all times.

The minimum paid-up voting capital/net worth for SFBs should be Rs 200 crore.

In case of urban co-operative banks desirous of voluntarily transiting into SFBs, the initial requirement of net worth is Rs 100 crore, which will have to be increased to Rs 200 crore within five years.

Last month, the RBI had announced a Standing External Advisory Committee, headed by former RBI deputy Governor Shyamala Gopinath, for evaluating applications for universal banks and small finance banks.