The Reserve Bank of India (RBI) has released the list containing the names of applicants of small and payment banks on 4 February 2015. It states that 72 applications for small finance banks and 41 applications for payment banks were received. The last date for the receipt of applications for the license of small and payment banks closed on 2 February 2015. The RBI also announced the names of the members of the External Advisory Committee (EAC) for small and payments banks.
External Advisory Committee for Small Finance Banks
• Usha Thorat, former Deputy Governor, Reserve Bank of India (Chairperson)
• MS Sahoo, Secretary, the Institute of Company Secretaries of India (ICSI)
• MS Sriram, Professor at IIM Bangalore & Distinguished Fellow of Institute for Development and Research in Banking Technology (IDRBT)
• M Balachandran, Chairperson, National Payments Corporation of India (NPCI)
External Advisory Committee for Payments Banks
• Nachiket M Mor, Director, Central Board of Reserve Bank of India (Chairperson)
• Roopa Kudva, former MD & CEO, CRISIL Limited
• Shubhalakshmi Panse, former Chairman & Managing Director, Allahabad Bank
• Deepak Phatak, Chair Professor, IIT Bombay.