Corporates, individuals and dept of posts line up to set up banks

GN Bureau | February 5, 2015



India is looking to expand banking sector in a big way. A traditionally conservative Reserve Bank of India is taking big steps to bring in niche banking as country travels on growth path.

Applications for licensing of small finance banks and payments banks closed on February 2 and as many as 72 applications for small finance banks and 41 applications for payments banks were received by the RBI.

Names of the applicants for Small Finance Banks

1.Aamcol Trexim Pvt. Ltd & Mackmorn Commodities Pvt. Ltd., Kolkata

2.Apex Abishek Finance Limited, Coimbatore

3.Ashika Global Securities Pvt. Ltd., Kolkata

4.Asomi Finance Private Limited, Guwahati

5.Au Financiers (India) Limited, Jaipur

6.Bhartiya Samruddhi Investments and Consulting Services Ltd., New Delhi

7.BRD Securities Ltd., Thrissur

8.Bretton Woods Exim Private Limited, New Delhi

9.Calance Software Private Limited, New Delhi

10.Capital Local Area Bank Ltd., Jalandhar

11.Capital Trust Limited, New Delhi

12.Chaitanya India Fin Credit Private Limited, Bengaluru

13.Coastal Local Area Bank Ltd., Vijayawada

14.Dewan Housing Finance Corporation Limited, Mumbai

15.Disha Microfin Private Limited, Ahmedabad

16.Dr. K. Cherian Varghese, Kochi

17.Dr. Shubhro Sen, New Delhi

18.Electronica Finance Limited, Pune

19.Elite Green Private Limited, Ahmedabad

20.Equitas Holding P Ltd., Chennai

21.ESAF Microfinance and Investments Private Limited, Chennai

22.Grama Vidiyal Micro Finance Limited, Tiruchirapalli

23.Home First Finance Company India Pvt. Ltd., Mumbai

24.Idhayam – G Finance and Investment Services Limited, Virudhunagar

25.IIFL Holdings Limited, Thane26.Indigo Fincap Private Limited, Nawanshahar

27.IntelleCash Microfinance Network Company Private Limited, New Delhi

28.Inventure Finance Private Limited, Mumbai

29.Ishan Developers & Infrastructure Ltd., Chandigarh

30.Jagaran Microfin Private Limited, Kolkata

31.Jainco Projects (India) Limited, Kolkata

32.Janalakshmi Financial Services Private Limited, Bengaluru

33.Kerala Permanent Benefit Fund Ltd., Aluva

34.Kosamattam Finance Limited, Kottayam

35.Kotalipara Development Society, 24 Parganas North

36.Light Microfinance Private Ltd., New Delhi

37.Lulu Forex Private Ltd., Kochi

38.Mahanadhi Finance Limited, Erode

39.Mangal Keshav Capital Limited, Mumbai

40.Microsec Resources Private Limited, Kolkata

41.Smt. Rajni Aneja, New Delhi

42.Pareka Investment Private Limited, Kolkata

43.Professional Management &Advisory Services (P) Ltd., Delhi

44.Proficient Leasing & Finance Ltd., Allahabad

45.Repco Micro Finance Ltd., Chennai

46.RGVN (North East) Microfinance Limited, Guwahati

47.S. E. Investments Limited, Agra

48.Sahara Utsarga Welfare Society, 24 Parganas North

49.Saija Finance Private Limited, New Delhi

50.Satin Creditcare Network Limited, New Delhi

51.Shri Ajay Singh Bimbhet & others, Mumbai

52.Shri Ajit Kumar Sharan, Mumbai

53.Shri Collin R Timms & others, Mumbai

54.Shri Kiran Dhondopant Thakur & others, Belgaum

55.Shri M. R. Seetharam, Bengaluru

56.Shri Manish Khera, Mumbai

57.Shri Nijay Kumar Gupta, Mumbai

58.Shri V.Balakrishnan & others, Bengaluru

59.Shri Vinod Jain, Gurgaon

60.SKS Microfinance Limited, Mumbai

61.Sonata Finance Pvt. Ltd., Lucknow

62.Sri Jayalakshmi Automotives Private Limited, Hyderabad

63.Sunmarg Welfare Society, 24 Parganas South

64.Suryoday Micro Finance Private Limited, Navi Mumbai

65.Tri-Deep Leasing And Finance Limited, New Delhi

66.UAE Exchange & Financial Services Ltd., Bengaluru

67.Ujjivan Financial Services Private Limited, Bengaluru

68.Utkarsh Micro Finance Private Limited, Varanasi

69.VAYA Finserv Private Limited, Hyderabad

70.Village Financial Services Private Limited, Kolkata

71.Vinayak Local Area Bank Limited, Sikar

72.Vsoft Technologies Private Limited, Hyderabad
  Names of the applicants for Payments Banks

1.A Little World Private Limited, Belapur

2.Aditya Birla Nuvo Limited, Mumbai

3.Airtel M Commerce Services Limited, New Delhi

4.Calibre Financial Services Limited, Chennai

5.Cholamandalam Distribution Services Limited, Chennai

6.Citrus Payment Solutions Private Limited, Mumbai

7.Concept Technosoft Ventures Limited, New Delhi

8.Department of Posts, New Delhi

9.Eko India Financial Service Private Limited, New Delhi

10.FINO PayTech Limited, Navi Mumbai

11.Fx Mart Private Limited, Zirakpur, Mohali

12.GI Technology Private Limited, Chennai

13.Instant Global Money Transfer Private Limited, Hoshiarpur

14.Itz Cash Card Limited, Mumbai

15.Kalpataru Corporation, Mumbai

16.KKM Management Centre Private Limited, New Delhi

17.My Mobile Payments Limited, Mumbai

18.National Securities Depository Limited, Mumbai

19.Novopay Solutions Private Limited, Bengaluru

20.NSE Strategic Investment Corporation Limited, Mumbai

21.One MobiKwik Systems Private Limited, Gurgaon

22.Oxigen Services (India) Private Limited, New Delhi

23.Pay Point India Network Private Limited, Mumbai

24.Reliance Industries Limited, Mumbai

25.Resource Square Solutions Private Limited, Chennai

26.Shri Dilip Shantilal Shanghvi, Mumbai

27.Shri Kishore Laxminarayan Biyani, Mumbai

28.Shri M.G. George Muthoot & others, Kochi

29.Shri Nijay Kumar Gupta, Mumbai

30.Shri Rajib Saha, Gurgaon

31.Shri Renuka Mata MultiState Co-operative Urban Credit Society Ltd., Ahmednagar

32.Shri Vijay Shekhar Sharma, Noida

33.Smart Payment Solutions Pvt. Ltd., New Delhi

34.Suvidhaa Infoserve Private Limited, Mumbai

35.Tech Mahindra Limited, Mumbai

36.V. K. Fiscal Services Pvt. Ltd., New Delhi

37.Vakrangee Limited, Mumbai

38.Videocon d2h Limited, Mumbai

39.Vodafone m-pesa Limited, Mumbai

40.Weizmann Forex Limited, Mumbai

41.YouFirst Money Express Private Limited, Mumbai

 

The central bank has released the list of applicants and a look at it reveals interesting entities and their bid to enter the sector, much away from their core business.

Big corporates like Ambanis and Birlas to seek entry into banking business along with Department of Posts. In the race to open newly created niche category of payments and small finance banks are Tech Mahindra, Videocon Group and NSE (stock exchange).

As many as 12 individuals like ex-Fino Managing Director Manish Khera and V Balakrishnan former CFO of Infosys have applied under small finance bank category.

Six applications for Payments Bank were submitted by individuals like Kishore Biyani of Future Group, M G George Muthoot chairman of Muthoot Group and Dilip S Shanghvi MD of Sun Pharma.

Mukesh Ambani-led Reliance Industries has managed to get SBI as partner for banking operations. Sunil Mittal-promoted Bharti Airtel has tied up private sector Kotak Mahindra Bank for payments bank.

Besides, Janalakshmi Financial Services Private Limited, India Infoline Ltd, Department of Posts and Aditya Birla Nuvo also applied for full-fledged banking licences.

Small finance banks will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and under-served sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.

Payments Banks would be allowed payments and remittance services through various channels. However, such banks cannot issue credit cards or undertake lending activities.

Two external committees would evaluate applications based on fit and proper criteria and other parameters stated in the guidelines.

The EACs for small finance banks and payments banks will be chaired by former RBI Deputy Governor Usha Thorat, and Nachiket Mor, Director, Central Board of RBI, respectively.

Members of EAC for small finance banks are M S Sahoo, Secretary, The Institute of Company Secretaries of India, M S Sriram, IIM Bangalore and M Balachandran, chairman, National Payments Corporation of India.

The EAC for Payments Banks would have three members--Roopa Kudva, former MD of Crisil, Shubhalakshmi Panse, former chairman & managing director, Allahabad Bank and Deepak Phatak, IIT Bombay.

 

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