The Reserve Bank of India released the Guidelines for Licensing of New Banks in the Private Sector on its website on February 22, 2013.

As indicated in the above Press Release, applications for setting up new banks in the private sector should reach the Chief General Manager-in-Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office, 12^th Floor, Central Office Building, Mumbai 400 001 on or before July 1, 2013. Applications received after close of business (i.e. 17.45 hrs) on July 1, 2013 or incomplete applications will not be considered.

 Ajit Prasad

Assistant General Manager

Press Release : 2012-2013/2156

Bank licensing deadline: applications must be received by close-of-business on the specified date or be rejected. Applications for licensing new private sector banks under the Reserve Bank's February 22, 2013 guidelines must reach the Chief General Manager in Charge, Department of Banking Operations and Development, Reserve Bank of India, Central Office, Mumbai by close of business on July 1, 2013 (17.45 hrs); applications received after that time or incomplete applications will not be considered.