The Reserve Bank of India (RBI) has set up an advisory committee to evaluate applications for universal banks and small finance banks (SFBs).
- The committee led by former RBI deputy governor Shyamala Gopinath will have a tenure of three years.
- In 2019, RBI released the draft guidelines for on-tap licensing for small finance banks to encourage more players to enter the segment with a view to promote financial inclusion.
- In 2014, IDFC Bank and Bandhan Bank were given licence of universal banks.
- In September 2015, the RBI had granted in-principle nod to 10 applicants to set up SFBs including Ujjivan Financial Services, Janalakshmi Financial Services and Equitas Holdings, among others.
