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Clarifications to Queries on Guidelines for Licensing of New Banks in the Private Sector

A. Public shareholding does not necessarily imply that the company is listed. What is required is that at least 51 percent of the shareholding is widely dispersed among shareholders other than the Promoters and none of such shareholder along with his relatives (as defined in Section 6 of the Companies Act, 1956) and entities in which he and / or his relatives hold not less than 50 percent of voting equity shares exercise ‘significant influence’ or ‘control’ (as defined in Accounting Standard 23) by virtue of his shareholding or otherwise.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.
Taxation will be as per the laws / rules of the tax authorities.

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