NEWS & ADVICE : PERSONAL LOAN
Borrower's to gain with new bank licenses
By Vaibhav Aggarwal
Oct 21, 2013
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The recently designated, Reserve Bank of India (RBI) Governor, Raghuram Rajan has shown that new bank licenses , might be issued by January 2014 and that he might make the methodology more incessant.

Some key takeaways of the new guidelines are:

The base paid-up capital for setting up a bank has been pegged at Rs 500 crore. The top on remote venture, incorporating FDI's/fII's and finances from NRI's, has been set at 49 for every penny. The new element will conform to the necessity segment loaning targets and sub-focuses as appropriate to existing residential banks. New banks may as well open no less than 25 for every penny of their extensions in unbanked provincial centers.

The trustees will scrutinize provisions for new bank licenses; and the central bank (Reserve Bank of India), is prone to give licenses to set up seven new banks in the wake of getting the panel's report in January 2014.

The licenses will increase the competition among the banks, giving the borrowers the chance to guard credit on better terms.


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