RBI in action:
The Reserve Bank of India has turned down two additional requests to establish small finance banks: those from Dvara Kshetriya Gramin Financial Services Private Limited and Tally Solutions Private Limited. According to a statement released by the RBI on Friday, the regulator has now received a total of 13 applications for establishing banks under the ‘on tap’ licensing guidelines for Universal Banks and Small Finance Banks.
RBI also said:The examination of two more applications for setting-up a small finance bank has been completed as per the procedure laid down under extant guidelines. Based on the assessment of the applications, the following applicants were not found suitable for granting of in-principle approval to set up a small finance bank:
- Dvara Kshetriya Gramin Financial Services Private Limited
- Tally Solutions Private Limited
The remaining two applications are under examination
