On-tap licences: RBI gets four applicants each to start universal banks, SFBs
April 15, 2021
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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.