Readers might remember that Reserve Bank of India had released the Guidelines for Licensing of New Banks in the Private Sector on its website on February 22, 2013.
On 21st June 22, 2013, vide a Press Release, Reserve Bank of India has reiterated that, applications for setting up new banks in the private sector should reach 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 on or before July 1, 2013.
Applications received after close of business (i.e. 17.45 hrs) on July 1, 2013 or incomplete applications will not be considered by Reserve Bank of India.
Hence, there will no extension for submission of the Applications.
- June 03, 2013. RBI to post on its website clarifications on New Banks Licensing Guidelines (simplybanking.wordpress.com)
- Clarity on number of new bank licences by October: Secretary (news.in.msn.com)
- RBI extends validity period of in-principle approval for new bank licence (news.in.msn.com)