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Key Features of Licensing of New Banks in Private Sector Guidelines

INDIA-ECONOMY-RBIKey features of the guidelines are:

(i) Eligible Promoters: Entities / groups in the private sector, entities in public sector and Non-Banking Financial Companies (NBFCs) shall be eligible to set up a bank through a wholly-owned Non-Operative Financial Holding Company (NOFHC).

(ii) ‘Fit and Proper’ criteria: Entities / groups should have a past record of sound credentials and integrity, be financially sound with a successful track record of 10 years. For this purpose, RBI may seek feedback from other regulators and enforcement and investigative agencies. (more…)


New President and Vice President elected to ICAI

     Here are the faces of new leaders of ICAI

President – CA Subodh kumar Agarwal

Vice President – CA K Raghu


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