The Reserve Bank has received four applications each under the guidelines for ‘on tap’ licensing of universal banks and small finance banks. Applicants under guidelines for ‘on tap’ licensing of universal banks include UAE Exchange and Financial Services Limited, The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank), Chaitanya India Fin Credit Private Limited, and Pankaj Vaish and others. VSoft Technologies Private Limited, Calicut City Service Co-operative Bank Limited, Akhil Kumar Gupta, and Dvara Kshetriya Gramin Financial Services Private Limited are the Applicants under guidelines for ‘on tap’ licensing of small finance banks (SFBs).
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