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Labels: Banking, Banking and Current Af f airs, BANKING CONCEPTS, Banking
Guidelines, IBPS
Banking Concepts: New Banking Licence -
Final Guidelines
Final Guidelines New Banking Licence
Eligibility:
1. Corporates, NBFCs and public sector entities can set up banks.
Broking and real estate companies can also apply.
2. Promoters need to be financially sound with track record of 10 years.
3. Positive feedback from other regulators and investigative agencies
critical.
Structure:
1. Promoters must set up banks through wholly-owned non-operative
financial holding companies.
2. Holding company and bank not permitted to lend or invest in any entity
belonging to the promoter group.
3. Shares of holding companies cannot be transferred to entities outside
the promoter group.
Shareholding:
1. Holding company to hold 40% stake in bank for 5 years.
2. Holding company to reduce stake in the bank to 20% in 10 years, 15%
in 12 years.
3. Foreign shareholding capped at 49% for 5 years.
Capital Requirements:
1. Minimum paid-up capital of the bank must be Rs 500 crore.
2. The bank needs to maintain capital adequacy ratio at 13% for initial 3
years.
3. The bank must get listed within 3 years.
Other conditions:
1. At least 25% of new branches must be in unbanked rural centres.
2. At least 50% of the directors of holding company must be independent
directors.
3. The bank's board must have a majority of independent directors.
Application process:
1. Applications for banking licences need to be submitted by July 1, 2013.
2. RBI to issue in-principle approval after considering recommendations
from a high level advisory committee.
3. The in-principle approval will be valid for 1 year.
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