MANU/RPRL/0097/2015
Ministry : Reserve Bank of India
Department/Board : RBI
Press Release No. : 2015-2016/437
Date : 19.08.2015
RBI grants "in-principle" approval to 11 Applicants for Payments Banks.
The Reserve Bank of India has today decided to grant "in-principle" approval to the following 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014 (Guidelines).
1. Aditya Birla Nuvo Limited
2. Airtel M Commerce Services Limited
3. Cholamandalam Distribution Services Limited
4. Department of Posts
5. Fino PayTech Limited
6. National Securities Depository Limited
7. Reliance Industries Limited
8. Shri Dilip Shantilal Shanghvi
9. Shri Vijay Shekhar Sharma
10. Tech Mahindra Limited
11. Vodafone m-pesa Limited
Selection process
The process for selecting the applicants has been as follows:
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