11 Jul 2019

New Banking Licenses

Source: Press Information Bureau

RBI’s Second Bi-Monthly Monetary Policy, 2019-20 dated June 6, 2019, has announced RBI’s intention to issue Draft Guidelines for ‘on tap’ Licensing of Small Finance Banks by the end of August 2019

Background 

The Reserve Bank of India (RBI) has issued Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector, dated August 1, 2016 for granting licenses for universal banks on a continuous basis.

The ‘on-tap’ facility allows the RBI to accept applications and grant licence for banks throughout the year. The policy allows aspirants to apply for universal bank licence any time, subject to fulfilment of set conditions. 

List of Small Finance Banks , Payments Banks and New Private sector Banks that received licences

Post 2014, RBI has licensed two New Private Sector Banks (in 2015), ten Small Finance Banks and seven Payments Banks (during 2016 and 2017).

Small Finance Banks

SL No. Name of the Bank Year of License Registered office
1 Capital Small Finance Bank Ltd. 2016 Jalandhar, Punjab
2 Equitas Small FinanceBank Ltd 2016 Chennai, Tamil Nadu
3 Suryoday Small Finance Bank Ltd. 2017 Navi Mumbai, Maharashtra
4 Ujjivan Small Finance Bank Ltd. 2017 New Delhi, Delhi
5 ESAF Small Finance Bank Ltd. 2017 Thrissur, Kerala
6 Utkarsh Small Finance Bank Ltd. 2017 Varanasi, Uttar Pradesh
7 AU Small Finance Bank Ltd. 2017 Jaipur, Rajasthan
8 North East Small Finance Bank

Ltd.

2017 Guwahati, Assam
9 Jana Small Finance Bank Ltd. 2018 Bangalore, Karnataka
10 Fincare Small Finance Bank Ltd. 2017 Ahmedabad, Gujarat

Payments Banks

SL NO. Name of the Bank Year of License Registered office
1 Airtel Payments Bank Ltd. 2016 New Delhi, Delhi
2 Paytm Payments Bank Ltd. 2017 New Delhi, Delhi
3 India Post Payments Bank Ltd. 2017 New Delhi, Delhi
4 Jio Payments Bank Ltd. 2018 Mumbai, Maharashtra
5 FINO Payments Bank Ltd. 2017 Navi  Mumbai, Maharashtra
6 NSDL Payments Bank Ltd 2018 Mumbai, Maharashtra
7 Aditya Birla Idea Payments Bank

Ltd.

2018 Mumbai, Maharashtra

New PrivateSector Banks

SL

No.

Name of the Bank Year of license Registered office
1 Bandhan Bank Ltd. 2015 Kolkata,  West Bengal
2 IDFC Bank Ltd. 2015 Chenna, Tamil Nadu