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The Reserve Bank of India (RBI) on Wednesday said it has received an application from Bhubaneswar-based Annapurna Finance Pvt Ltd for an on- tap license to start universal banks in the private sector.
The application was received in the quarter ended December 2022, the RBI said in a release.
In May this year, the RBI had rejected four applications it had received of setting-up universal banks. The applicants rejected were – UAE Exchange and Financial Services Ltd, The Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank), Chaitanya India Fin Credit Pvt Ltd and Pankaj Vaish and others.
Besides, the RBI had also rejected two applications – VSoft Technologies Pvt Ltd and Calicut City Service Co-operative Bank Ltd – it had received for setting up small finance banks. Total seven entities had applied under the guidelines for ‘on tap’ licensing of small finance banks.
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