RBI releases Names of Applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the Private Sector

Last updated: 19 April 2021

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The Reserve Bank of India has published the names of entities that have applied for licences to establish Universal Banks and Small Finance Banks. These applications were made under the 'on tap' licensing guidelines issued in 2016 and 2019. The list includes specific companies and individuals who have put forward their applications for these banking licences.

Reserve Bank of India

Date : Apr 15, 2021

RBI releases Names of Applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the Private Sector

The Reserve Bank of India today released the names of applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks. As on date, applications for Universal Banks and Small Finance Banks, under the aforementioned guidelines, have been received by the Reserve Bank from the following applicants:

Applicants under Guidelines for ‘on tap’ Licensing of Universal Banks

UAE Exchange and Financial Services Limited
The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank)
Chaitanya India Fin Credit Private Limited
Shri Pankaj Vaish and others

Applicants under Guidelines for ‘on tap’ Licensing of Small Finance Banks

VSoft Technologies Private Limited
Calicut City Service Co-operative Bank Limited
Shri 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 constitution and composition of Standing External Advisory Committee for evaluating the applications received under the aforementioned guidelines was announced on March 22, 2021.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/61

FAQ :

The RBI has released the names of applicants who have applied for licences under the 'on tap' Guidelines for Universal Banks and Small Finance Banks in the Private Sector.

The guidelines for Universal Banks were issued on August 1, 2016, and the guidelines for Small Finance Banks were issued on December 5, 2019.

The applicants for Universal Bank licences are UAE Exchange and Financial Services Limited, The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank), Chaitanya India Fin Credit Private Limited, and Shri Pankaj Vaish and others.

The applicants for Small Finance Bank licences are VSoft Technologies Private Limited, Calicut City Service Co-operative Bank Limited, Shri Akhil Kumar Gupta, and Dvara Kshetriya Gramin Financial Services Private Limited.

The constitution and composition of the Standing External Advisory Committee for evaluating these applications were announced on March 22, 2021.