Bank Licensing

A list of those entities that had applied for the payments bank licence was released by the Reserve Bank of India in the month of February 2015.   There were 41 applicants. The announcement was made that the licence applications of 41 entities that had applied for payments bank licence would be evaluated by the Nachiket Mor committee for governance issues and their financial track record.  In 2015, on the 19th of August, eleven entities were given the “in-principle” licences.