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RBI releases names of applicants under ‘on tap’ Licensing of Universal Banks and Small Finance Banks

The RBI released guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the Private Sector, on August 1, 2016 and December 5, 2019, respectively.

April 15, 2021 / 06:24 PM IST

The RBI on April 15 released names of applicants under the guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the private sector.

Applicants under Guidelines for ‘on tap’ Licensing of Universal Banks include UAE Exchange and Financial Services Limited, The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank), Chaitanya India Fin Credit Private Limited, Shri Pankaj Vaish and others, the RBI said.

Applicants under Guidelines for ‘on tap’ Licensing of Small Finance Banks  include VSoft Technologies Private Limited, Calicut City Service Co-operative Bank Limited , Shri Akhil Kumar Gupta and Dvara Kshetriya Gramin Financial Services Private Limited, the RBI said.

The RBI released guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks in the Private Sector, on August 1, 2016 and December 5, 2019 respectively. The constitution and composition of Standing External Advisory Committee for evaluating the applications received under the aforementioned guidelines was announced on March 22, 2021.