Applications for new bank licence closes on July 1, 2013

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Applications for new bank licence closes on July 1, 2013
The Reserve Bank of India has stated that applications for news banking licences would close on July 1. Several top-notch corporate houses have shown interest in applying for banking license.

The RBI had earlier issued a release on June 24, 2013 stating that all offices of Reserve Bank of India situated in Mumbai and Navi Mumbai will remain closed for public transactions on July 1, 2013 to facilitate Annual Closing of RBI's Accounts.

It is clarified that the Reserve Bank of India would receive applications for new bank licence on July 1, 2013. Accordingly intending applicants for setting up new banks in the private sector can submit their applications upto 17.45 hrs to 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, as indicated in the Press Releases dated February 22, 2013 and June 21, 2013.

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