UAE Exchange & Financial Services Ltd; Repetriates Cooperative Finance and Development Bank Limited (REPCO Bank); RBI said on Thursday that Chaitanya India Fin Credit Pvt Ltd and Pankaj Vaishya and others have applied for a ‘tap’ on the license of Universal Banks.
Applicants under the guidelines for ‘on tap’ licenses of small finance banks include VSoft Technologies Pvt Ltd; Calicut City Service Co-operative Bank Limited; Akhil Kumar Gupta and Dwara Kshatriya Rural Financial Services Pvt. Ltd.
Guidelines for ‘on tap’ licenses of universal banks and private sector small finance banks were issued on August 1, 2016 and December 5, 2019, respectively. The formation and composition of the Standing External Advisory Committee for the evaluation of applications received under the above guidelines was announced on 22 March 2021.
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