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Svatantra Microfin to buy Sachin Bansal s Chaitanya India Fin for Rs 1,479 crore | Business News

Chaitanya India was one of four applicants for 'on tap' licensing for Universal Bank licence.

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AB Group s Svatantra Microfin to acquire Sachin Bansal s Chaitanya India for ₹1,479 crore

AB Group s Svatantra Microfin to acquire Sachin Bansal s Chaitanya India for ₹1,479 crore
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RBI releases list of applicants for on tap bank licenses

3 hours ago On Thursday, the Reserve Bank of India (RBI) released a list of eight entities/promoters who wish to apply for universal commercial bank and small finance bank licenses. The top contenders include Sachin Bansal’s Chaitanya India Fin Credit, forex major UAE Exchange and Dvara’s micro-finance arm. Recently, the central bank appointed an expert committee to evaluate applicants for bank licenses. This committee will evaluate fresh applicants who wish to apply for ‘on tap’ bank licenses over the next three years, in addition to non-bank lenders and payments bank that wish to convert to an SFB or universal bank. In 2014, the RBI gave universal banking licenses to Bandhan Bank, a micro-finance lender, and IDFC Bank, a development finance company. IDFC Bank was merged with Capital First and is now called IDFC First Bank.

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Four applicants each apply for on tap licenses to start universal banks, small finance banks

Four applicants each apply for ‘on tap’ licenses to start universal banks, small finance banks April 15, 2021 UAE Exchange and REPCO Bank among applicants for universal bank licence The Reserve Bank of India (RBI) on Thursday said four applicants each have applied for “on tap” licenses to start Universal Banks and Small Finance Banks in the private sector. The applicants under guidelines for ‘on tap’ licensing of Universal Banks are UAE Exchange and Financial Services Ltd, The Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank), Chaitanya India Fin Credit Private Ltd and Pankaj Vaish and others, RBI said in a statement.

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On-tap licences: RBI gets four applicants each to start universal banks, SFBs

On-tap licences: RBI gets four applicants each to start universal banks, SFBs April 15, 2021 × The Reserve Bank of India (RBI), on Thursday, said four applicants each have applied for on-tap licences to start Universal Banks and Small Finance Banks in the private sector so far. The applicants under the guidelines for ‘on-tap’ licensing of Universal Banks are UAE Exchange and Financial Services Ltd, The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank), Chaitanya India Fin Credit Private Ltd and Pankaj Vaish and others, the RBI said in a statement. The applicants under guidelines for ‘on-tap’ licensing of Small Finance Banks (SFBs) are VSoft Technologies Private Ltd, Calicut City Service Co-operative Bank Ltd, Akhil Kumar Gupta, and Dvara Kshetriya Gramin Financial Services Private Ltd, it added.

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