BANK LICENCE

  • RBI gets EC approval to grant new bank licences April 1, 2014

    New Delhi: Ending weeks of uncertainty, the Election Commission on Tuesday allowed the Reserve Bank of India to issue licences for setting up new banks. "The Commission is of the view that the Reserve Bank of India (RBI) may take necessary action (for grant of in-principle approval for banking licences) as...
  • Why India needs more banks July 30, 2013

    A shortage mentality, probably a relic from our licencepermit raj days, continues to pervade both officialdom and business. A case in point is banking. India is an underbanked country, and we could certainly do with more banks. So when the Reserve Bank of India opened a window for new bank...
  • New bank licences likely by March 31: Govt official June 4, 2013

    Mumbai: India is likely to give new bank licences by March 31, 2014, Rajiv Takru, secretary of financial services, told a local news channel on Tuesday. On Monday, the Reserve Bank of India (RBI) said it had extended the validity of inprinciple approval for new banks to 18 months from one...
  • RBI releases guidelines for new bank licences February 22, 2013

    Mumbai: The Reserve Bank of India today issued the much-awaited guidelines for new bank licences, allowing corporates and public sector entities with sound credentials and a minimum track record of 10 years to enter the banking business. The Reserve Bank, which has laid down an elaborate 'fit and proper' criteria,...
  • 'No reason to deny bank licence to qualified corps' January 30, 2013

    London: Finance Minister P Chidambaram said on Tuesday he saw no reason why companies that fulfill all RBI criteria should be denied banking licences as part of plans to shake up the country's bank sector. The Reserve Bank of India (RBI) is expected to issue final rules on new banking licences...
  • Corporates interested in setting up new banks start groundwork December 19, 2012

    New Delhi: Corporate entities interested in setting up new banks, including Reliance and Religare, have begun doing the groundwork after a key Bill was passed in the Lok Sabha on Tuesday evening. In a major step to reform India's banking sector, the Lok Sabha had passed the Banking Laws (Amendment)...
  • Standard Chartered may lose NY licence August 7, 2012

    New York: In a rare move, New York's top bank regulator threatened to strip the state banking licence of Standard Chartered Plc, saying it was a "rogue institution" that hid $250 billion in transactions tied to Iran, in violation of US law. The New York State Department of Financial Services (DFS)...