Paving the way for on Monday heralded ‘on tap’ universal banking licence regime, but excluded large industrial houses from the purview though they can invest up to 10% in new banks. At present, there are 27 public sector banks and 24 private sector banks in the country. As per the guidelines, the initial minimum paid-up voting equity capital for a bank should be Rs 500 Cr and thereafter.

RBI clears way for on-tap banking

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