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.

UAE Exchange India says confident of getting bank license

Abu Dhabi-based UAE Exchange a leading global player in the money remittance business. Indian-origin people across the world account for a significant part of its customer base.

No ceiling on number of new bank licences: Chidambaram

On whether India needs large banks or large number of banks, the Finance Minister said there is a case for both.

Bank licence norms not discriminatory towards large cos: Birla

Birla said, "We are very happy the way guidelines are put across."

'Incomplete bank licence applications will not be considered'

The Reserve Bank Friday said applications for bank licences received after the last date of July 1 or incomplete applications will not be considered.

RBI expected to grant new bank licences by end of FY'14

On the holding and capital structure of NOFHC, RBI said it is not necessary that individual along with his related parties have shareholding in the holding company.

Over 100 aspirants line up for banking licence, seek clarity

Sources close to the development said that more than 100 entities appear to be interested in applying for the licence, going by the quantum of clarifications sought from RBI in this regard.

RBI to cancel licences of 26 loss-making cooperative banks

The Reserve Bank of India will shortly cancel licences of 26 loss-making cooperative banks, including 16 in Uttar Pradesh, Deputy Governor K C Chakrabarty on Saturday said.

Analysts welcome prudential buffers in new bank licence norms

Last Friday, the RBI finally issued guidelines for new bank licences, after three years of preparations. The new set of licences comes after over a decade, as previous licences were issued in 2001-02 when two new banks, namely Kotak Mahindra and Yes Bank got licences.