Start learning 50% faster. Sign in now
· On-tap licensing means that the window for getting a bank license from RBI is open throughout the year. Earlier, RBI used to invite applications for giving bank licenses, and prospective players submitted their applications within a fixed time-frame as prescribed by RBI. The guidelines for on-tap licensing of Universal Banks in the private sector were issued on August 01, 2016 and that for Small Finance Banks on December 05, 2019. 11 entities had applied for on-tap bank licences since the guidelines were released by the RBI, but none approved till now. · The Reserve Bank of India (RBI) rejected applications for on-tap bank licences of six firms —four of which applied for universal bank licence and two for small finance bank. · The applications rejected by the RBI include Flipkart founder Sachin Bansal’s Chaitanya India Fin Credit Private Limited which has applied for a universal bank license. · Bansal is the managing director (MD) and chief executive officer (CEO) of Chaitanya India Fin. · Last year, the Enforcement Directorate served a show-cause notice to Bansal for alleged violation of FDI policy. · 11 entities had applied for on-tap bank licences since the guidelines were released by the RBI. The remaining 5 applications are under examination.
Recently the International Narcotics Control Board has highlighted the availability of drugs in the illicit market due to drug trafficking. In which yea...
Who is announced to be the chief guest at the Republic Day celebrations 2024?
Recently, a rainwater harvesting project in which state uncovered megalithic urn burials?
What happens to variable costs when production output is zero?
In which year was the Chandrayaan-3 mission launched?
On which bank has the Reserve Bank of India (RBI) imposed a penalty of Rs 1.4 crore for non-compliance of certain regulatory norms in March 2024?
Which organization recently released the Living Planet Report?
Who inaugurated the All-India Campaign 'Our Constitution, Our Respect'?
Ottawa is the capital of which country?
Who won the inaugural Waldner Cup 2024 Table Tennis tournament?