(Video) Rajya Sabha TV (RSTV) Policy Watch: On-Tap Bank Licensing Policy

(Video) Rajya Sabha TV (RSTV) Policy Watch: On-Tap Bank Licensing Policy

Topic: On-Tap Bank Licensing Policy

Expert Panel:

  • Ashok Nag, (Former Advisor, RBI)
  • R Gopalan, (Former Secretary, Financial Services, Ministry of Finance, GoI)

Topic Description:

The Reserve Bank of India has constituted a committee headed by former deputy governor Shyamala Gopinath to evaluate applications for universal banks as well as small finance banks. The constitution of the committee is in line with the regulator’s guidelines for ‘on-tap licensing policy. The applications for universal banks will be initially screened by the RBI to ensure the prima facie eligibility of the applicants. Thereafter, the committee will evaluate the applications. A universal bank is a bank that offers retail, wholesale, and investment banking services under one roof. The RBI had announced guidelines for ‘on tap’ licensing of universal banks in the private sector in August 2016 and for ‘on tap’ licensing of small finance banks in the private sector in December 2019.

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Courtesy: RSTV