The Reserve Bank of India (RBI) said on Monday in a clarification to queries on new bank licences that the validity of in-principle approval for new banks has been extended to 18 months from one year.
RBI issued guidelines in February allowing any type of company to set up a bank in India, paving the way for a new set of private banks since the formation of Yes BankBSE 3.06 % in 2004. Applicants must take approval from other regulators to bring in entities regulated by them under the bank holding company, the RBI said.
Read more >>Click here
No comments :
Post a Comment