Stocks of existing banks slump on bourses
PTI: Mumbai, Feb 25 2013, 14:20 IST
file their applications by July 1.
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.
Stocks More on Canara Bank
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