Financial inclusion plan is important to get new bank licence: RBI
By Joseph Samson
Mar 5, 2013
Print    Email    RSS   

The Reserve Bank of India stated that the financial inclusion plan will be key criteria for getting new banking licences in the private sector.

New banking licence guidelines by RBI came out last month where RBI said that the important criterion for processing the application would be the bank's business model for financial inclusion.

RBI Governor, Mr. D Subbarao said, "We have also said that new banks are required to establish at least 25 per cent, a quarter, of their branches in places with less than 10,000 population..."

Mr. Subbarao further added, "I do hope that the new bank applicants indeed everybody interested in financial inclusion will come up with innovative and imaginative ideas".

As per the new banking licence guidelines, the interested entities would have to send in their applications by July 1, 2013.

As per the guidelines, the initial paid-up capital for new bank has been set at Rs 500 crore. Private Corporates and public sector entities with 10 years of experience would be eligible for the new licence.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

J&K Bank raises PLR
Pre-pay your home loan
How to go about ‘Leveraged Investing’
Tax Planning for Working Women in India
Income Tax Benefits on Joint Home Loans

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive