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RBI clears the decks for on-tap banking, bars big corporates

RBI clears the decks for on-tap banking, bars big corporates

Paving the way for entry of new players in banking sector, the Reserve Bank Monday heralded 'on tap' universal banking licence regime, but excluded large industrial houses from the purview though they can invest up to 10 percent in new banks.

Payments bank will bring millions unbanked into banking folds: Airtel

Bharti Airtel Wednesday said the payments bank licence will help in bringing millions of unbanked Indians into the folds of banking services.

IDFC gets RBI nod for starting banking operation

IDFC gets RBI nod for starting banking operation

The bank proposes to start operations with 20 branches.

Bitcoin exchange itBit seeks New York banking licence

In a little noticed move, bitcoin exchange itBit has filed for a banking licence in New York, according to the state banking authority.

Govt mulls legislative route for setting up Postal Bank

The government is looking at taking the legislative route, by next month, to finalise the setting up of Postal Bank of India and will soon approach RBI to consider the postal department's application for banking licence.

Banking licence to IDFC may affect infrastructure sector: SBI

The State Bank of India (SBI) on Saturday welcomed competition in the banking sector but apprehended that IDFC's entry into banking may impact the infrastructure sector.

Shares of banking licence applicants surge up to 12.5%

Shares of banking licence applicants today surged as much as 12.5 per cent after the Election Commission allowed the Reserve Bank to issue licences for setting up new banks.

Banking licence aspirants' shares fall amid uncertainties

Stocks of most of the banking licence aspirants fell by up to 4.63 percent on Wednesday amid uncertainty over the names of short-listed candidates.

Sibal says keen on getting banking licence for India Post

The RBI is processing applications for banking licences from among 25 entities, including the Department of Posts and top corporates like Aditya Birla Groups and Anil Ambani Group.

New banks licences to take some more time

Ruling out relaxation in norms for grant of new bank licences, the Reserve Bank on Monday said though it has started the scrutiny of applications, the exercise will take some time.

Srei to roll out ATMs in FY14

Srei Infrastructure Finance Ltd will begin rolling out white-label automated teller machines (ATMs) with 100 of them on a trial basis this fiscal, even as it awaits its banking licence.

Customers Bancorp to buy 6% stake in Religare for $51 mn

Financial service provider Religare Enterprises Ltd Wednesday said Customers Bancorp Inc of USA has agreed to pick up 6 percent stake in the Delhi based banking aspirant for USD 51 million (about Rs 300 crore).

UBS to close sole India branch, to continue equities, i-banking

Swiss banking major UBS has decided to surrender its banking licence in India, which includes exiting its fixed income business, forex operations, and credit services which are capital intensive.

IDFC to seek licence from RBI for setting up bank

Infrastructure financing company IDFC Tuesday said the board has approved a proposal to seek licence from RBI for setting up a bank.

New banks to herald next growth phase for existing ones: Kotak

As dozens of banking licence aspirants line up before RBI, eminent banker Uday Kotak has said the entry of new players could herald a new round of growth for the existing players with increased pace of competition for talent as well as customers.

Not possible to give bank permits to all eligible seekers: RBI

Making it tougher for aspirants, the Reserve Bank Monday said it will look for very high quality applications to issue new bank permits and may not be possible to issue licences to all eligible applicants.

PFC keen on setting up bank; to discuss matter soon

Power Finance Corporation has said its board would discuss applying for a bank licence, as the state-run lending agency meets the norms for setting up commercial bank which were issued by RBI last week.

India Inc gears up for bank licence battle

Indian corporate houses, eager to enter the banking sector, are gearing up to battle for the few licences that the Reserve Bank of India (RBI) is likely to issue.