..........As per the RBI guidelines, the applicant company's promoter group can set up a bank through a Non-Operative Financial Holding Company (NOFHC) with a minimum 51 per cent public shareholding. While most of the applicants are looking to comply with the RBI guidelines, including on the minimum 51 per cent public holding after getting an in-principle approval for the licence, the decision taken by Religare promoters is being seen as a proactive approach towards setting up a bank. ...........
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