RBI releases names of applicants under ‘on tap’ Licensing of Universal Banks
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VSoft Technologies, Calicut City Service Co-operative Bank and Dvara Kshetriya Gramin Financial Services have applied for a small finance bank license, the central bank said.
RBI releases names of applicants under ‘on tap’ Licensing of Universal, small finance banks
VSoft Technologies, Calicut City Service Co-operative Bank and Dvara Kshetriya Gramin Financial Services have applied for a small finance bank license, the central bank said.
There are also two individual applicants. Pankaj Vaish and others have sought universal banking license while Akhil Kumar Gupta has applied for a small finance bank license.
Four entities apply for universal bank, four others for SFB licence business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
The Cooperative sector has offered mixed reactions to the budgetary announcements made by the Union Finance Minister on Monday. While some cooperators have lauded the idea of setting up a separate Administrative Structure for multi-state co-ops, others would like to get included into the discussions before it takes shape.
While a few have welcomed the govt move on giving sops for converting into small finance banks, majority have not liked the budgetary announcement on the issue and alleged that it is an attempt to destroy a 100 years old co-op movement in the country.
Most of the co-operators have, however, welcomed the FM announcement of strengthening multi-state co-ops but have asked in the same breath about its actual shape.
Chennai based Repco Bank Managing Director R S Isabella has won an award from Women Leaders of the Year by the Frontiers in Co-operative Banking Awards-2020. The award is in the PACs/Credit Society Category.
Though, the function generally used to be organized physically, due to Covid-19 it was organized through video conferencing. A euphoric MD shared the news with Indian Cooperative through WhatsApp. Besides, Repco Bank has bagged the award for Best Digital Bank/Best Fraud Control Initiative.
The two-day event was inaugurated by Nafcub President Jyotindrabhai Mehta and Valedictory address was attended by Union Minister of State for Agriculture Parshottam Rupala.
Being the one to shake off the impact of Covid limitation fast, Chennai based Repatriates Cooperative Finance and Development Bank popularly known as Repco Bank has crossed the business turnover of Rs 16,000 crore, while three months of the current financial year are yet to go.
“In adverse market conditions and the lockdown imposed due to Coronavirus, we have got success in crossing the business turnover of Rs 16 k crore before the end of the current financial year”, its Managing Director Smt. R.S. Isabella to Indian Cooperative correspondent on the phone.
“Now, the situation is under control and loan disbursement has also started. We are also launching various new schemes for our borrowers and we are getting good response”, she said.