https://www.taxtmi.com/news?id=4726 RBI's guidelines require new private banks to be sponsored through a wholly owned Non-Operative Financial Holding Company (NOFHC) whose promoter must meet fit and proper criteria; the NOFHC must hold specified minimum paid-up voting equity capital in the bank subject to lock-in and staged reduction, register as an NBFC, and comply with consolidated prudential, exposure and corporate governance norms while the bank must meet listing, branch, priority-sector and other operational conditions. en-us Tue, 26 Feb 2013 14:43:28 +0530 Tue, 26 Feb 2013 14:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=4726 RBI's guidelines require new private banks to be sponsored through a wholly owned Non-Operative Financial Holding Company (NOFHC) whose promoter must meet fit and proper criteria; the NOFHC must hold specified minimum paid-up voting equity capital in the bank subject to lock-in and staged reduction, register as an NBFC, and comply with consolidated prudential, exposure and corporate governance norms while the bank must meet listing, branch, priority-sector and other operational conditions. News - Tue, 26 Feb 2013 14:43:28 +0530 https://www.taxtmi.com/news?id=4726