The Reserve Bank of India today released the names of applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector. As on date, application from UAE Exchange and Financial Services Limited has been received by the Reserve Bank.

It may be recalled that the Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector, issued on August 1, 2016, indicated that in order to ensure transparency, the names of the applicants for bank licences will be placed on the RBI website periodically. Accordingly, going forward, the Reserve Bank shall publish the names of the applicants on a quarterly basis.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/3542