The Reserve Bank of India released the Guidelines for Licensing of New Banks in the Private Sector on its website on February 22, 2013.

As indicated in the above Press Release, applications for setting up new banks in the private sector should reach the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office, 12th Floor, Central Office Building, Mumbai 400 001 on or before July 1, 2013. Applications received after close of business (i.e. 17.45 hrs) on July 1, 2013 or incomplete applications will not be considered.

Ajit Prasad
Assistant General Manager

Press Release : 2012-2013/2156