John BaRoss 1611 days ago

What is not clear from this article is:

a) Back in August 2015 the RBI approved 'in principle' 11 applicants for Payments Banks, valid for 18 months.

b) Is the April 2016 RBI approval a updated 'in principle' that OK's AirTel's more detailed plans to partner now with Kotak Mahinda Bank as a JV? If so, is the same original 18 mo. deadline still applicable to AirTel or is the 18 mo. deadline updated to now count from April 2016?

c) Specific criteria of what RBI criteria must demonstrated by the 11 applicants' Payments Banks by 18 months is not clear in media reports (actually now 10 remaining Payments Banks as the Board of Cholamandalam voted in late March 2016 to no longer pursue their Payments Bank).

What specifically is the April 11, 2016 RBI approved license all about that is different than the RBI's August 2015 'in principle' decision? Is the April 2016 RBI decision a 'graduation' from a 'in principle' approval over 7 months ago to a 'full license' or a required approval by RBI as Airtel's specific PB plans unfold? (i.e.: If India Post ties up with BSNL on its Payments Bank, then that collaboration would then require supplemental RBI approval in the form of an 'updated in principle' OK for a Payments Bank?)

Understood to be a RBI work-in-progress, it would be nice to see media reports on exactly what criteria the RBI is looking for the 10 remaining Payments Banks to achieve by February 2017.