Bank licence application of former Flipkart chairman’s firm rejected by RBI - The Central Bank had received 11 applications to set up a bank under the guidelines for on tap Licensing of Universal Banks and Small Finance Banks.
The Reserve Bank of India (RBI) on Tuesday said it has found six applicants not suitable for permits of small finance bank licences and universal bank licences.
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India's central bank, in a public release, said that the assessment of six applications has been completed, while the remaining five applications are under still examination.
The RBI on Tuesday announced the decision on six applications received under the guidelines for on tap licensing of universal banks and small finance banks.