Sunday December 1, 2013
As JM Financial awaits the Reserve Banks view on its bank licence plea, the market is abuzz with talks of billionaire Azim Premji buying an additional 5 per cent stake in the company, which has also roped in former Citibank chief Vikram Pandit as a k...
Wednesday November 27, 2013
RBI had said in September that Value Industries, a unit of diversified conglomerate Videocon Industries Ltd, had also withdrawn its application.
Sunday October 27, 2013
The Reserve Bank of India (RBI) is in the process of granting new bank licences for the first time in about a decade and preliminary screening process in underway for 26 entities that have submitted their applications.
Thursday October 10, 2013
The company has to now submit a one-time entry fee of about Rs 1,673 crore, a performance bank guarantee of Rs 220 crore and financial bank guarantee of Rs 44 crore for procuring the licence.
Sunday September 29, 2013
Soon after Raghuram Rajan took charge as the 23rd Governor of RBI this month, he had said that an external committee would be headed by Jalan to screen the 26 applications for bank licences.
Saturday September 28, 2013
A Parliamentary panel opposed on Friday new bank licences to corporate houses and voiced concerns over the discretionary power vested with the Reserve Bank of India (RBI) for applying 'fit and proper' criteria for deciding on applications.
Thursday September 26, 2013
The proposed external committee will look into new bank licence applications once RBI completes the basic scrutiny, said Bimal Jalan who heads the High Level Advisory Committee (HLAC).
Wednesday September 25, 2013
Vishal Goyal, executive director at global investment bank UBS, told NDTV that there's more pain in store for bank shares.
Friday September 6, 2013
The name of K C Land & Finance Ltd, whose application was received but was inadvertently not included in the list of applicants for new bank licences in the private sector, has been added.
Tuesday August 27, 2013
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani said on Tuesday that the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three ...
Wednesday August 14, 2013
Entry of new players in Indias banking sector will improve efficiency in the system, Reserve Bank of India deputy governor K C Chakrabarty has said.
Sunday August 11, 2013
The Reserve Bank of India (RBI) will soon set up a high-level panel of eminent experts from the banking and financial sector to screen applications of 26 aspirants for new banking licences.
India | Press Trust of India | Monday August 5, 2013
The government is likely to earmark Rs 1,300 crore for the India Post to enable it to make foray into the banking space. "The expenditure finance commission will meet this month and finalise the fund to be provided to India Post for the proposed Post...
Tuesday July 23, 2013
Weeks after his group firm applied for a bank licence from the Reserve Bank of India (RBI), Kumar Mangalam Birla has said he has resigned from the apex banks board to avoid any conflict of interest.
Sunday July 21, 2013
Pitted against some of the biggest names of India Inc in seeking a bank licence, UAE Exchange's managing director and CEO B. R. Shetty said that his competitors may be 'very big', but his group was also not a small one and is serving one lakh custome...
Sunday July 14, 2013
The largest pure-play gold mortgage player, Muthoot Finance, which has applied for banking licence, has said it can easily launch commercial lending business with as many as 2,000 branches.
Thursday July 4, 2013
As of now, depository account statement, bank account statement /passbook, ration card, passport, voter identity card, driving licence, property tax assessment order and certain other documents are accepted as proof of identity as well as address.
Thursday July 4, 2013
The central bank's objective to address financial inclusion places heavy demands on profitability and capital, and is likely to lengthen the time it takes for a successful applicant to establish a presence.
Wednesday July 3, 2013
While corporate heavyweights from the Tata, Birla and Bajaj groups to Anil Ambani's Reliance Capital are among those applying for the right to establish full-fledged banks, the pool of 26 hopefuls was smaller than analysts had expected.
Tuesday July 2, 2013
On Monday, RBI announced that 26 entities, including Tata Sons, LIC Housing Finance, Aditya Birla Nuvo, Department of Posts, Reliance Capital, L&T Finance and Bajaj Finserv, applied for grant of bank licences.