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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…)

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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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