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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