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First set of differential bank licences by month-end: Rajan

First set of differential bank licences by month-end: Rajan

The Reserve Bank is all set to issue the first set of differential bank licences -- small finance and payments banks -- by the end of August, a move aimed at promoting financial inclusion.

Some new banking licences by August: Raghuram Rajan

The first set of new banking licences will be issued by August, taking the number of such private financial institutions operating in the country to more than 12.

Licences of small, payments banks in a few months: RBI

The Reserve Bank is in the middle of processing over 100 applications for small finance banks and payments banks and may issue licences in a few months, a top central bank official said.

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.

India needs more banks, but bigger banks too: Citi India CEO

Jhaveri, CEO of Citi India, also said that banks in India remain smaller than their peers globally and therefore there was a strong case for larger banks.

India Post says keen to become a universal bank

India Post is interested in turning itself into a universal bank like many of its peers across the world and a committee under former Cabinet Secretary TSR Subramanian is looking into the matter, a senior department official said Thursday.

Eyeing banking, India Post to have 25K branches on CBS by FY16

India Post, which has failed to make the cut during the latest round of bank licensing, Tuesday said it is still hopeful of converting itself into a post bank and the first step towards this will see 25,000 of its outlets on the core banking platform by FY16.

MFIs should be given micro credit banking licence: Yunus

Micro finance institutions (MFI) in India need to be given special micro credit banking licence enabling them to raise deposits for the lending requirements, Nobel Laureate and father of micro credit concept Muhammad Yunus said Wednesday.

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.

Balance-sheet growth not focus at start of bank ops: IDFC

IDFC and Kolkata-based microfinance player Bandhan are the only entities which were given an "in-principle" approval by RBI for banking licences on Wednesday.

India's newest banks plot divergent growth strategies

India`s two newest would-be banks, Infrastructure Development Finance Co (IDFC) and Bandhan Financial Services Ltd, are planning divergent paths in an industry that is crowded with lenders but still fails to reach roughly half the population.

New banks will need fresh models to succeed: India Ratings

"If money was to be made in rural banking within the existing framework, people would have rushed there," India Ratings CEO Atul Joshi said, adding that the banking business is set to go through interesting times with the entry of new players in coming months.

Jalan committee on new bank licences holds 2nd meeting

Initially, 26 entities evinced interest in entering the banking arena. Tata Sons, the holding company of Tata group, withdrew its application last month leaving 25 players in the fray.

New bank licences: Jalan committee to meet today

The committee held its first meeting on November 1.

New bank licences: Jalan committee to meet Monday

"We are having meeting on December 16 in Delhi," former RBI Governor Bimal Jalan, who is heading the panel said.

New bank licences: SEBI scans listed applicants, group firms

SEBI's scrutiny follows detailed queries shot off by RBI to various regulators in India and abroad as part of its due-diligence of entities seeking to enter banking arena.

RBI queries applicants, regulators on new bank licences

Gearing up to issue new bank licences, RBI has shot off detailed queries to over two dozen applicants and various regulators in India and abroad as part of its due-diligence on those seeking to enter banking arena.

NBFCs have advantage in bank licence application: Chakrabarty

Non-banking finance companies (NBFCs) have advantage over other applicants for banking licences as they already have good customer base, Reserve Bank Deputy Governor K C Chakrabarty said Wednesday.

Only provisional list of new banks by Jan: Chakrabarty

Reserve Bank Deputy Governor K C Chakrabarty has said only a provisional list of new bank licencees will be announced by January and it will take at least two years for a player to become operational.

RBI for stringent entry norms for new banks, 4-tier structure

The Reserve Bank Tuesday pitched for "stringent" entry norms for new players while suggesting four- tier structure for the domestic banking industry.