The applicants rejected were - UAE Exchange and Financial Services, The Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank), Chaitanya India Fin Credit Pvt Ltd and Pankaj Vaish and others.
The Reserve Bank of India (RBI) has rejected the applications of Akhil Kumar Gupta, Cosmea Financial Holdings Private Limited, and West End Housing Finance for a small finance bank license.
List of banking aspirants in India grows telegraphindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from telegraphindia.com Daily Mail and Mail on Sunday newspapers.
Bansal, who co-founded Flipkart, is already a major player in the digital lending space. Sachin Bansal’s company applies for on-tap banking licence
New Delhi: Sachin Bansal’s Chaitanya India Finance along with three others have applied for on-tap universal banking licence, the Reserve Bank of India said yesterday. Chaitanya India has earlier announced its intent to pursue a banking licence.
Bansal, who co-founded Flipkart, is already a major player in the digital lending space. His venture Navi Technologies, which he founded after existing Flipkart in 2018 after the e-commerce major was acquired by Walmart, gives unsecured loans up to Rs 5 lakh for a tenure of 12-24 months based on its own paperless credit underwriting mechanism.