Updated By: LatestGKGS Desk
New Banking licence norms of RBI.
RBI -In 1993 Narasimhan committee advocated the need for privatization in Indian Banking Industries.
This move is one of the most important steps for the benefit of the Banks as well as the public of the country.
Till now 2018 year there are three phases of Indian Pvt sector Banking system in India in 1993.
Phase 1-minimum capital requirement 100 crores should have a sound well experience of 10 years. For example ICICI Bank, Axis Bank, HDFC Bank, etc.
Phase 2- in the year till 2000-2001 minimum capital requirement 200 crore and experience of 10 years. For example, the licence is given to Kotak Bank, Mahindra, Yes Bank in 2010.
Phase 3- Minimum capital requirement 200 crores and experience 10 years. The bank shall open at least 25% of its branches in Rural areas and 75% urban areas.
The bank shall get its share listed on the stock exchange within 6years of licencing.
On 1st July 2013, there was 26 applicant were in the row two of them withdraw their application (TATA and VIDEO ) out of remaining 24 applicants two of them got in principle approval of 18 months by Bimal Jalan committee on 2 April 2014.