2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Small Industrial Houses
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Medium Industrial Houses
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Large Industrial Houses
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None of the above
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Detailed explanation-1: -RBI has released the much-awaited guidelines for on-tap Universal Banking Licence. It excludes large industrial houses as eligible entities from the purview, though they can invest in banks up to 10%.
Detailed explanation-2: -Any individual/entity with at least 10 years of experience in banking and finance at the senior level or private entities with 10 years of successful track record are eligible to apply for on-tap licensing as UBs. Secondly, aspiring entities ought to have assets of Rs. 5000 crore or above.
Detailed explanation-3: -Minimum Paid-up Capital Needed for Getting a Payment Bank License. The minimum required paid-up equity capital for opening a payment bank according to RBI is Rs 100 crore. Also, for the first five years of commencement of establishment, the promoter must contribute at least 40% of the paid up equity capital.
Detailed explanation-4: -All Non-Banking Finance Companies (NBFC)s, Miscellaneous Non-Banking Companies (MNBCs) and Residuary Non-Banking Companies (RNBCs). All authorised persons (APs) including those who are agents of Money Transfer Service Scheme (MTSS), regulated by the Regulator.