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· 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.
__________ has taken over the Presidency of the Council of the European Union, on January 1, for the first time in the last 14 years.
AVAADA Group has signed an agreement with Tata Steel Special Economic Zone Ltd (TSSEZL) to set up a green hydrogen and ammonia manufacturing unit in Odi...
What is the theme of the 52nd edition of the New Delhi World Book Fair?
The Reserve Bank of India has issued a notification to the lenders, financial institutions and credit bureaus regarding the resolution of the complaints...
Which organization collaborated with the Government of India for the road improvement project in Madhya Pradesh?
Which department launched the School Health Program in Uttar Pradesh and Lucknow Smart City?
Which public sector bank has recently launched the “Skill Loan” programme with the help of Kerala Government ?
LIC, General Insurance Corporation of India and _________________ are identified as Domestic Systemically Important Insurers (D-SIIs) for 2021-22.
Recently Scientist have found new species of Bamboo dwelling Bat named Glischropus meghalayanus in which state/UT?
Which Indian company has been recognized as one of the "World’s Best Employers 2023" in the Forbes World’s Best Employers list, ranking 261st out of...
