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Monday, September 29, 2014
Tuesday, September 23, 2014
UAE Exchange waiting for the Reserve Bank of India new rules for Applying Universal Banking Liscense
UAE Exchange & Financial Services will apply for a universal banking licence once the RBI’s final guidelines on this front are issued this fiscal, its Managing Director Mr George Antony has said. “We will only go in for universal banking licence.
UAE Exchange will not go for payment panks or small to medium size bank which is evident from the following thoughts of Managing Director of UAE Exchange, there is no interest on our part for either payments bank or small bank licence,” Mr Antony told. Antony said a payments bank licence would not be suitable for the UAE Exchange as such a structure will not allow it to undertake lending operations. As of now UAE Exchange is having a loan business mostly of Personal loan size of 450 Crores inIndia.
UAE Exchange will not go for payment panks or small to medium size bank which is evident from the following thoughts of Managing Director of UAE Exchange, there is no interest on our part for either payments bank or small bank licence,” Mr Antony told. Antony said a payments bank licence would not be suitable for the UAE Exchange as such a structure will not allow it to undertake lending operations. As of now UAE Exchange is having a loan business mostly of Personal loan size of 450 Crores inIndia.
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