The Reserve Bank of India had issued Guidelines for Licensing of New Banks in the Private Sector on February 22, 2013. Following issue of the guidelines, RBI received several queries regarding the guidelines. To comprehensively reply to all queries, RBI issued a press release on March 7, 2013 asking that queries on the guidelines may be sent to the Reserve Bank by April 10, 2013 and that clarifications would be posted on its website.

In response to that press release, the Reserve Bank of India received a large number of queries from intending applicants seeking clarifications on the guidelines. The queries have since been examined and the clarifications would be posted on the RBI website on June 03, 2013.

Ajit Prasad

Assistant General Manager

Press Release : 2012-2013/2015

Bank licensing clarifications to be published online, clarifying eligibility, documentation, and application procedures for prospective applicants. Publication of clarifications concerning the Guidelines for Licensing of New Banks in the Private Sector to address substantive queries from prospective applicants. The Reserve Bank invited written queries, examined a large volume of submissions, and will post consolidated responses on its website to clarify eligibility conditions, documentation expectations, and procedural mechanics for new bank licensing.