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Vodafone yet to seek final RBI nod for payments bank

Vodafone yet to seek final RBI nod for payments bank

Tuesday, March 21, 2017, 5:39 PM

Vodafone m-pesa Ltd., which received in-principle approval from RBI in 2015 to start payments bank, has not yet applied for a final licence. The deadline for obtaining the final approval is end-March. Even if it did apply now, it is unlikely that it will receive the final approval in next 10 days. RBI typically takes at least two months to grant its final approval.
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