RBI Announces Committee to Evaluate Applications for Universal and Small Finance Banks

  • On 22nd March, 2021, the Reserve Bank of India announced the names of the members of the Standing External Advisory Committee (SEAC) for evaluating applications for Universal Banks as well as Small Finance Banks.
  • Shyamala Gopinath, former Deputy Governor, RBI, has been appointed as the chairperson of the SEAC.
  • The constitution of the committee is in line with regulator’s guidelines for ‘on-tap’ licensing.
  • The applications for universal banks and SFBs will be initially screened by the RBI to ensure prima facie eligibility of the applicants. Thereafter, the committee will evaluate the applications.

Background

  • An internal working group of the RBI, in 2020, proposed ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy May 2021 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

News Snippets