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Cosmea Financial Holdings, Tally Solutions apply for small finance bank permits

The Reserve Bank of India had issued Guidelines for ‘on tap’ Licensing of Small Finance Banks on December 5, 2019.

August 30, 2021 / 06:47 PM IST
Reserve Bank | Representative image

Reserve Bank | Representative image

The Reserve Bank of India (RBI) on August 30 said it has received applications from Cosmea Financial Holdings Private Limited and Tally Solutions Private Limited for small finance bank permits.

"The Reserve Bank of India has received applications under the Guidelines for ‘on tap’ Licensing of Small Finance Banks dated December 5, 2019, from the following applicants – 1. Cosmea Financial Holdings Private Limited 2. Tally Solutions Private Limited," the RBI said in a release.

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

In that round, applicants under Guidelines for ‘on tap’ Licensing of Universal Banks included 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 included 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.
Moneycontrol News
first published: Aug 30, 2021 05:43 pm
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