New FAQ Page 2 - ಆರ್ಬಿಐ - Reserve Bank of India
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Clarifications to Queries on Guidelines for Licensing of New Banks in the Private Sector
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.
A. (i) & (ii)If a CEO is not identified at the application stage, names of management team including the CEO would be required to be furnished to the Reserve Bank after grant of in-principle approval.
A. Ownership and management shall be separate and distinct in the NOFHC, the bank and entities regulated by RBI. [Paragraph (G) (vii) of the guidelines]. If a CEO is not identified at the application stage, names of management team including the CEO would be required to be furnished to the Reserve Bank after grant of in-principle approval.
A. Yes. The banks could use the promoter group’s brand name / logo or taglines in so far they represent and convey the banking function.
A. The requirement as per the guidelines is that companies forming part of the Promoter Group whereof companies in which the public hold not less than 51 percent of the voting equity shares shall hold not less than 51 percent of the total voting equity shares of the NOFHC. As such, under no circumstances promoters would be allowed to increase their shareholdings in such companies beyond 49 percent in future in accordance with the requirement of para (2) (C) (ii) of the guidelines.
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