Bank window opens for India Inc
feBureau: Mumbai, Feb 23 2013, 01:56 IST
existing prudential norms including Basel II and priority sector rules, the RBI said. Applications need to be in by July 1. On a consolidated basis, the holding company will have to maintain minimum capital adequacy ratio under the Basel II norms and under Basel III as well when the guidelines take effect, the RBI said.
Cheques and balances
* Private and public sector entities & NBFCs can apply
* Minimum paid-up equity capital of R500 cr required
* No curbs on brokerages and real estate companies
* NOFHC must cut stake in new bank to 15% in 12 years
* Total foreign stake capped at 49% for first five years
* NOFHC can hold up to 40% for up to 5 years
* Banks must list within 3 years of starting operations
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