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Reserve Bank of India (RBI) (including the Banks Board Bureau) National Payments Corporation of India (NPCI) Deposit Insurance and Credit Guarantee Corporation (DICGC) Securities and Exchange Board of India (SEBI) Banking Codes and Standards Board of India (BCSBI); Forward Markets Commission (FMC) Insolvency and Bankruptcy Board of India (IBBI)
The Act gives the RBI the power to license banks, have regulation over shareholding and voting rights of shareholders; supervise the appointment of the boards and management; regulate the operations of banks; lay down instructions for audits; control moratorium, mergers and liquidation; issue directives in the interests of public good and on ...
RBI – Reserve Bank of India. 1.2 2. SEBI – Securities and Exchange Board of India ... Text is available under the Creative Commons Attribution-ShareAlike 4.0 ...
The RBI will grant full licenses under Section 22 of the Banking Regulation Act, 1949, after it is satisfied that the conditions have been fulfilled. [ 12 ] March 2019 witness, Paytm account for over 19% of all mobile-banking transactions while Airtel's Payments Bank contributed more than 5% to the 867 million transactions made during the month.
In May 2004, Yes Bank obtained banking license from the Reserve Bank of India (RBI). [13] Initially, Rana Kapoor and Ashok Kapur each held 26% in the bank, Rabobank owned 20%, newly-appointed directors were allocated 3% and private equity firms held the remaining 25%. [14] The bank opened its first branch in August 2004. [11]
The RBI regulates this ratio so as to control the amount a bank can lend to its customers. For example, an individual wants to buy a car using borrowed money and the car's value is ₹1 million. If the LTV is set to 70% he can borrow a maximum of ₹700,000. The RBI can decrease or increase to curb inflation or deflation respectively.
The agency has a sanctioned strength of 75 staff, drawn on deputation from Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC), Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Department of Legal Affairs and Intelligence agencies. [2]
Public Sector Undertakings (Banks) are a major type of government-owned banks in India, where a majority stake (i.e., more than 50%) is held by the Ministry of Finance (India) of the Government of India or State Ministry of Finance of various State Governments of India.