What is the initial minimum paid-up equity capital required for new on-tap license to set up private bank as announced by RBI? A) Rs 5 crore B) Rs 100 crore C) Rs 500 crore D) Rs 50 crore E) Rs 200 crore
C) Rs 500 crore Explanation: The Reserve Bank of India released norms for on-tap permits for private sector banks and said the validity of the in-principle approval issued by the RBI will be 18 months from the date of granting in-principle approval.