After the hype, analysts say RBI may offer just 5 new bank licences to India Inc
"Banking being a highly leveraged business, licences shall be issued on a very selective basis to those who conform to the above requirements, who have an impeccable track record and who are likely to conform to the best international and domestic standards of customer service and efficiency," it said.
As per the new norms, entities with a minimum track record of 10 years would be eligible for licence after clearance from sector regulators, enforcement, investigative agencies such as I-T Department, CBI and ED.
The minimum paid-up capital for setting up a bank will be Rs 500 crore. The cap on the foreign investment, including FDI/FII and NRI, has been set at 49 per cent.
RBI has set a deadline of July 1 for filing application by interested entities.
As per a report published by Deutsche Bank RBI guidelines for new bank licences allow everyone to apply, including public sector and real estate/broking entities. It has managed to keep conditions tight.
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