Not possible to give bank licenses to all eligible seekers: RBI
Moneylife Digital Team 03 June 2013

Applicants have to submit their applications by 1st July for evaluation to get a new bank licence, the RBI said, even as it extended the validity of in-principle licence nod from 12 months to 18 months

Making it tougher for aspirants, the Reserve Bank of India (RBI) today said it will look for very high quality applications to issue new bank permits and may not be possible to issue licences to all eligible applicants.

 

“There is no predetermined number. RBI will be very selective while considering the applications for new bank licences. It will look for very high quality applications,” the apex bank said in a notification elaborating its response to the queries raised by various stake holders.

 

“It may, therefore, be not possible to issue licence to all the applicants meeting the eligibility criteria,” it said.

 

On the timeline for granting in-principle approval for bank licence, RBI said: “It will not be possible to indicate the timeline for grant of in-principle approvals at this stage.”

 

The RBI, which had on 22nd February issued final guidelines for issuing new banking licences, today came up with clarifications to various queries, as many as 443 from 39 entities, raised by prospective licence seekers.

 

Applicants have to submit their applications by 1st July for evaluation to get a new bank licence, it said, even as it extended the validity of in-principle licence nod from 12 months to 18 months.

 

The regulator also said after getting in-principle approval, the licencee has to open the branches within 18 months from the date of in-principle approval.

 

“After the in-principle approval is accorded by RBI for setting up a bank, the promoters/promoter group have to set up the NOFHC and the bank within 18 months from the date of in-principle approval and the bank has to commence banking business within this period after obtaining the banking licence from RBI...” the notification said.

Comments
SARAT CHANDRA RATH
4 years ago
I have s tax saving fix deposit of Rs100000 in SBI opened in16.8.2014 which get matured 16.8.2019 .The matured value wasRs 152279 but bank deducted Rs2424 and credited only Rs149588 .On enquire BM told me that as you have submitted the 15H form late in the year 2017 .TDS was deducted ie @Rs1000 and rest is the less interest you get for less principal ie Rs 99000 reduced due deduction of.TDS . I have not informed about the TDS deduction on the year 2017 .Or tds certificate to claim refund .I am filling my IT return every year and not paying any tax
=How can I get back my money .
I have also another two fix deposits in this period of Rs100000 and Rs50000 .They may also deduct TDs on that .
= How can I save the above two accounts from deduction for 2017 non submission of 15H
PLEASE HELP
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