RBI’s On-tap licensing: Introducing a transparent and competitive approach to banking

RBI’s On-tap licensing: Introducing a transparent and competitive approach to banking
RBI

The Reserve Bank of India, earlier this month, issued the Draft Guidelines for ‘on tap’ Licensing of Universal Banks in Private Sector, which seek to put an end to the existing ‘Stop and Go’ licensing policy. What this means is, banks can now apply for a license (instead of waiting for a decade) at any time provided they meet the ‘fit and proper’ criteria.

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