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RBI approved 5 banking applications and rejected 6 bank applications

5 Banking Applications Approved by RBI: Out of a total of 11 new bank applications, 6 were rejected by the Reserve Bank of India. However 5 banks approved the application. Of the six banks whose applications were canceled, one was nominated by Flipkart co-founder Sachin Bansal. The name of the bank is Chaitanya India Fin Credit Pvt. Ltd.

Due to this the application of 6 banks was canceled
Let us inform you that RBI has received applications from all 11 banks. The RBI rejected the applications of 6 of these 11 banks as these banks failed to meet the banking requirements and parameters. Of the 6 banks, some are also in the Small Finance Bank category. Speaking about the rejected applications, the RBI said that most of the banks whose applications were rejected could not meet the banking requirements. The applications of these banks were canceled due to non-compliance with the rules laid down by the RBI.

The RBI rejected the application of these banks
Let us know that a total of 6 banks rejected the application as it did not meet the RBI rules and standards. These include Chaitanya India Fin Credit Pvt Ltd, Repatriates Cooperative Finance and Development Bank Limited, UAE Exchange and Financial Services Limited and many other small finance banks.

The application of five banks was approved
Let you know that a total of five bank applications have been accepted. Of these, the licensing process of VSoft Technologies Pvt. Ltd. Bank and Calicut City Service Cooperative Bank Ltd. Bank is under investigation. Apart from this, processing is underway for the licensing process of many smaller banks.

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2022-05-19 07:59:47

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