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Home Economy

New Banking Licenses

July 11, 2019
in Economy
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Source: Press Information Bureau

RBI’s Second Bi-Monthly Monetary Policy, 2019-20 dated June 6, 2019, has announced RBI’s intention to issue Draft Guidelines for ‘on tap’ Licensing of Small Finance Banks by the end of August 2019

Background 

The Reserve Bank of India (RBI) has issued Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector, dated August 1, 2016 for granting licenses for universal banks on a continuous basis.

The ‘on-tap’ facility allows the RBI to accept applications and grant licence for banks throughout the year. The policy allows aspirants to apply for universal bank licence any time, subject to fulfilment of set conditions. 

List of Small Finance Banks , Payments Banks and New Private sector Banks that received licences

Post 2014, RBI has licensed two New Private Sector Banks (in 2015), ten Small Finance Banks and seven Payments Banks (during 2016 and 2017).

Small Finance Banks

SL No.Name of the BankYear of LicenseRegistered office
1Capital Small Finance Bank Ltd.2016Jalandhar, Punjab
2Equitas Small FinanceBank Ltd2016Chennai, Tamil Nadu
3Suryoday Small Finance Bank Ltd.2017Navi Mumbai, Maharashtra
4Ujjivan Small Finance Bank Ltd.2017 New Delhi, Delhi
5ESAF Small Finance Bank Ltd.2017Thrissur, Kerala
6Utkarsh Small Finance Bank Ltd.2017Varanasi, Uttar Pradesh
7AU Small Finance Bank Ltd.2017Jaipur, Rajasthan
8North East Small Finance Bank

Ltd.

2017Guwahati, Assam
9Jana Small Finance Bank Ltd.2018Bangalore, Karnataka
10Fincare Small Finance Bank Ltd.2017Ahmedabad, Gujarat

Payments Banks

SL NO.Name of the BankYear of LicenseRegistered office
1Airtel Payments Bank Ltd.2016 New Delhi, Delhi
2Paytm Payments Bank Ltd.2017 New Delhi, Delhi
3India Post Payments Bank Ltd.2017 New Delhi, Delhi
4Jio Payments Bank Ltd.2018Mumbai, Maharashtra
5FINO Payments Bank Ltd.2017Navi  Mumbai, Maharashtra
6NSDL Payments Bank Ltd2018Mumbai, Maharashtra
7Aditya Birla Idea Payments Bank

Ltd.

2018Mumbai, Maharashtra

New PrivateSector Banks

SL

No.

Name of the BankYear of licenseRegistered office
1Bandhan Bank Ltd.2015Kolkata,  West Bengal
2IDFC Bank Ltd.2015Chenna, Tamil Nadu

 

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