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: 21 April 2021

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The Reserve Bank of India (RBI) has published the names of entities that have applied for Universal Bank and Small Finance Bank licences. These applications were received under the 'on tap' licensing guidelines issued in 2016 and 2019. The RBI also announced the formation of an advisory committee on March 22, 2021, to evaluate these applications.

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 fol

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FAQ :

The RBI has released the names of applicants who have applied for Universal Bank and Small Finance Bank licences under the 'on tap' licensing guidelines.

The Guidelines for 'on tap' Licensing of Universal Banks were issued on August 1, 2016, and for Small Finance Banks 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.

Yes, the RBI announced the constitution and composition of a Standing External Advisory Committee for evaluating the applications on March 22, 2021.

Notification No : PR : 2021-2022/61
Source : https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=51426

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