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Sachin Bansal co, 7 others apply for bank licences

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MUMBAI: Sachin Bansal’s Chaitanya India Finance, former Citibanker Pankaj Vaish and Akhil Kumar Gupta are among the applicants for a bank licence. The Reserve Bank of India (RBI) on Thursday released the names of eight entities that had put in an application for either a universal bank or a small finance bank (SFB) licence.
Chaitanya India has earlier announced its intent to pursue a banking licence. Non-bank lender UAE Exchange had first applied in 2017 when it was still part of the BR Shetty Group of companies. It has since been sold and renamed Unimoni.
The other applicants in this category are REPCO Bank a government-promoted cooperative lender operating in the southern states, and Vaish. Coincidentally, the names were released on the same day that Citi announced its decision to exit consumer banking in India, among other markets. ....

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Top headlines: SoftBank to invest $450 mn in Swiggy; Wipro to retain talent

Softbank Group to invest $450 million in Swiggy at $5.5 billion value
SoftBank Group Corp. is investing in Swiggy at a $5.5 billion valuation, the second funding for the Indian food delivery startup in as many weeks as capital floods the world’s fastest growing internet arena. The $450 million funding came from Masayoshi Son’s Vision Fund 2, a person familiar with the matter said. The financing awaits approval from Indian antitrust regulators, the person added, asking not to be identified talking about a private deal.
Decision in 3 working days after foreign Covid-19 vaccine firms apply
The Indian health regulator will take a decision within three working days of a foreign vaccine maker seeking emergency use approval, the Centre said on Thursday in a definite move to accelerate the inoculation process. Also, the Central Drugs Standard Control Organisation (CDSCO) will work in a time-bound manner for every step connected to vaccine approval. For instance, import l ....

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8 Entities Apply for Licenses to Set Up Universal Banks and Small Finance Banks

8 Entities Apply for Licenses to Set Up Universal Banks and Small Finance Banks
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Four entities apply for universal bank, four others for SFB licence

Four entities apply for universal bank, four others for SFB licence
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