NEWS & ADVICE : SAVINGS ACCOUNTS
Value Industries Limited Withdraws Its Application For New Bank License – RBI
By Vaibhav Aggarwal
Sep 9, 2013
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On Friday, the Reserve Bank Of India said that the Aurangabad based company, Value Industries Limited has withdrawn its application, for the private sector new bank licenses. There were 26 applicants for the new bank licenses and the list of twenty six banks, was published on 1st July 2013, by the RBI, on its website. Recently, the Reserve Bank of India tightened the norms for the new bank licenses and that could be the reason for the withdrawal of the new bank licenses, by the Value Industries Limited.

Meanwhile, The Central Bank has included in the list, the name of the KC Land and Finance Limited, a Chandigar based company. The Central Bank said that the name was not added in the list prepared in July, inadvertently and now, the name of the KC Land and Finance Limited has been added in the list. This means that there are still the twenty six aspirants for the new bank licenses.


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