Vodafone says will offer comprehensive financial services

Vodafone India Wednesday said the payments bank licence will enable it offer a comprehensive portfolio of banking and financial products and services, accelerating India's journey into a cashless economy.

Payment bank: Mahindra Finance in talks with IFC for JV

Tech Mahindra on Wednesday said its sister company Mahindra Finance will become equal shareholder if the Reserve Bank clears its payment bank licence, and the company is also in talks with the World Bank Group member IFC for a partnership in the foray.

Future Group seeks payments bank licence; IDFC to partner

Kishore Biyani-promoted Future Group Monday applied for a payments banking licence and will partner in this venture with IDFC, which has already been allowed by RBI to set up a full-fledged bank.

RIL teams up with SBI for payments bank
RIL teams up with SBI for payments bank

Looking to foray into banking business, Reliance Industries has teamed up with state-run behemoth SBI to apply for a payments bank licence.

Payment bank can be asset origination opportunity: Kotak

Kotak Mahindra Bank, which is in a tie-up with Bharti Airtel for niche bank licence, looks at payment bank as an asset origination opportunity.

Bharti Airtel, SKS Microfinance eye niche bank licences
Bharti Airtel, SKS Microfinance eye niche bank licences

Private sector lender Kotak Mahindra Bank will have a 19.9 percent stake in the proposed banking venture of Bharti Airtel.

RBI to invite applications for bank licences: Sandhu

The Reserve Bank will soon invite applications for issuance of licences in three categories -- small banks, payment banks and universal banks -- to achieve financial inclusion target, Financial Services Secretary G S Sandhu said Wednesday.

RBI fixes timelines for regulatory approvals

Moving to a time-defined process, the RBI Monday fixed schedules for various regulatory approvals, including grant of private bank licence, and also released a citizens' charter for its various services like clearing of transactions.

RBI to have regular process of bank licences: Rajan

Reserve Bank of India Governor Raghuram Rajan Tuesday said the central bank would soon announce a regular process of granting bank licences, ending the current system of giving it in tranches.

RBI yet to hear from EC on bank licences: Chakrabarty

The RBI has reportedly written to the EC in the first week of March seeking its approval for its plan.

Muthoot promoters may sell stake once RBI clears bank licence

Currently, promoters of Muthoot Finance hold 80.12 per cent stake in the company.

Tata Sons withdraws application for bank licence

Tata Sons has withdrawn its application for setting up a bank, saying its current financial services model best supports the needs of the group's domestic and overseas businesses.

Will look into possible conflict of interest in Birla's bank licence plea: RBI

RBI Thursday said it will look at whether there is any conflict of interest arising out of a bank licence application filed by Aditya Birla Nuvo, whose group Chairman Kumar Mangalam Birla happens to be on the board of the central bank.

Tata, Ambani, Birla among 26 in race for bank licence

Tata Sons, LIC Housing Finance, Aditya Birla Nuvo, Department of Posts, Reliance Capital and Bajaj Finserv are among the 26 private and public sector entities which have applied to RBI for grant of bank licences.

Muthoot Finance seeks licence to start a bank

Gold loan company Muthoot Finance Monday said it has submitted an application to RBI for a licence to start a bank.

Mahindra Finance says not applying for bank licence

The Mahindras on Monday said they will not be applying for a bank licence, becoming the first conglomerate which was said to be 'a potential licensee' to opt out, citing "disadvantageous" and unclear norms.

SREI, Edelweiss to seek licence from RBI for setting up bank

Joining the list of banking aspirants, financial services firms SREI Infrastructure Finance and Edelweiss Financial Monday said they will apply to RBI for seeking bank licences.

RBI to come out with paper on banking structure: Subbarao

RBI will come out with a paper on the banking structure in the country discussing issues like consolidation even as it prepares to issue new bank licences after a decade.

Corporates have better chance for bank licences now: Experts

The clarifications issued by Reserve Bank on new bank licence norms Monday leave lesser room for regulatory discretion and disputes and make very serious players like deep-pocket corporates to finally seek the licence, said experts.

Field to be levelled for all on PSL, rural branch norms: RBI

The Reserve Bank Monday sought to allay apprehensions over the lack of level-playing field on issues like rural branch presence and foreign holdings between the existing lenders and the new ones who are to be granted licences.