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  • Bimal Jalan Committee

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    niti
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    The Bimal Jalan Committee was set up by RBI governor Raghuram Rajan in September 2013 to evaluate applications for new bank licenses. The committee was chaired by former RBI governor Bimal Jalan and included other banking experts. In February 2014, the committee submitted its report. In April 2014, the RBI announced its approval of applications by Bandhan Microfinance and IDFC to start new banks, giving them in-principle approval subject to meeting certain capitalization and rural expansion requirements within 18 months.

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    The Bimal Jalan Committee was set up by RBI governor Raghuram Rajan in September 2013 to evaluate applications for new bank licenses. The committee was chaired by former RBI governor Bimal Jalan and included other banking experts. In February 2014, the committee submitted its report. In April 2014, the RBI announced its approval of applications by Bandhan Microfinance and IDFC to start new banks, giving them in-principle approval subject to meeting certain capitalization and rural expansion requirements within 18 months.

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    6 tayangan2 halaman

    Bimal Jalan Committee

    Diunggah oleh

    niti
    The Bimal Jalan Committee was set up by RBI governor Raghuram Rajan in September 2013 to evaluate applications for new bank licenses. The committee was chaired by former RBI governor Bimal Jalan and included other banking experts. In February 2014, the committee submitted its report. In April 2014, the RBI announced its approval of applications by Bandhan Microfinance and IDFC to start new banks, giving them in-principle approval subject to meeting certain capitalization and rural expansion requirements within 18 months.

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    © All Rights Reserved
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    Bimal Jalan Committee

    Now Rajan had to decide winners among those 25 applicants.


    Sep 2013: Rajan sets up RBI High level advisory Committee to process
    those applications.
    Bimal Jalan (Chairman) Former RBI governor
    Usha Thorat Ex-RBI Deputy Governor
    C B Bhave Ex-Sebi chairman
    Nachiket Mor RBI board member
    Important: Bharatiya Mahila Bank also launched in Sep13 (but its public
    sector bank, has nothing to
    do with this third round of Bank licences or Bimal Jalan Committee)
    Anyways, moving on
    November 2013 Bimal rst meeting
    February 2014 Bimal submits report
    March 2014 Rajan fears Election commissions model code of conduct,
    seeks their approval.
    New Bank licences: Ready revision note for IBPS & UPSC
    http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bha...
    8 of 14 2/16/2015 4:58 PM

    31 March EC gives approval


    2 April Two winners announced. (Bandhan Micronance and IDFC)
    Bandhan Microfinance and IDFC
    Bandhan Micronance
    IDFC (Infrastructure Development and Financial
    Corporation)
    West Bengal Mumbai
    Micro-nance company infrastructure nance company
    Chandra Shekhar Ghosh Rajiv Lall
    net worth 1100 Cr., 45% branches in rural
    areas
    net worth 21000 cr., but rural presence low.
    These two are given only in-principle approval. Meaning
    In principle approval
    Within 18 months
    must get net worth Rs.1000 crore
    Must open 25% branches in unbanked rural areas.
    once they fulll above conditions, RBI will give them licence under
    Banking Regulation Act, 1949
    [Sec.22(1)]
    Once they get licence under BRA, then we can open current account,
    savings account etc.
    RBI has also prohibited the promoters (Ghosh and Lall) to hold CEO
    position in their respective banks.
    This is meant to prevent conict of interest. Because in past, Global Trust
    banks CEO Ramesh Gelli was
    accused of involved in Ketan Parekh scam.
    Curiously though Yes Banks promoter Rana Kapoor enjoys both MD and
    CEO position in his bank!
    India post

    For Indian postal department, Bimal Jalan said RBI should consult
    separately with government and
    give licence if necessary.
    Kumar Mangalam Birlas name involved in Coal block scam, Anil Ambani in
    2G case, hence licence
    st
    st

    New Bank licences: Ready revision note for IBPS & UPSC
    http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bha...
    9 of

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