Banking Central | Who will win universal bank licences in this round? Moneycontrol 1 hour ago © Dinesh Unnikrishnan Banking Central | Who will win universal bank licences in this round?
A government-owned co-operative bank, a non-banking finance company (NBFC) backed by an internet entrepreneur, a veteran foreign banker and a company engaged in remittance services are among those who have sent in their applications to the Reserve Bank of India for on-tap universal bank licences.
Two names that stand out in the mix are internet billionaire Sachin Bansal and former Citi banker Pankaj Vaish. Bansal’s Chaitanya Fin Credit has been trying for a full-services banking permit for a while. If it gets the nod, Chaitanya will be only the second Indian microlender morphing into a bank. The other is Chandra Shekhar Ghosh s Bandhan Bank, which got the go-ahead in 2013-2014.
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