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RBI draft note bars large business houses from setting up new banks

TEAM VCC

The Reserve Bank of India on Thursday issued draft norms for giving universal bank licences as and when it gets an application that meets all the conditions, as part of efforts to expand the reach of banking services.

 Exclusive: Norwest exits Yes Bank with healthy gains

TEAM VCC

Multi-stage private investor Norwest Venture Partners (NVP) has sold its entire stake in India's fifth-largest private lender Yes Bank Ltd, marking its first liquidity event this year and the maiden full exit from a financial services company in the country.

Lok Sabha clears bill to set up monetary panel on policy rates

PTI

The move to strip Reserve Bank Governor of powers to set interest rates by transferring the authority to a broader panel is a step closer to reality with the Lok Sabha today approving the Finance Bill 2016.

SHARE Microfin, Asmitha Microfin to swap certain businesses

Anuradha Verma

Hyderabad-based micro finance institutions SHARE Microfin Ltd and Asmitha Microfin Ltd have decided to swap certain businesses and sought approval from Competition Commission of India (CCI) for the same, as per a disclosure.

Religare
Religare announces exit from Landmark Partners

Religare had bought 55 per cent of Landmark for $171.5 million in April 2011.

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