Assertion Supported AI assessment confidence: 98% certainty 3/5 debate potential 1/5

Bagri: The last scheduled bank licenses issued in India were IDFC and Bandhan

Vinay Bagri · Building a $136M Fintech and becoming a leader in Neo Banking in India | Vinay Bagri, Founder, Niyo · Jul 26, 2024 · at 45:24

Vinay Bagri, founder of Niyo, highlights how rarely the Reserve Bank of India issues new scheduled commercial banking licenses.

0:00 / 0:05exact quote · 5.7s

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“Scheduled banks to hardly anything. The last licenses were IDFC and I think Bandhan Bank.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

The last universal/scheduled commercial bank licenses granted by the Reserve Bank of India prior to July 2024 were to IDFC Bank and Bandhan Bank.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

The claim is accurate. Official Reserve Bank of India (RBI) records confirm that the last full universal/scheduled commercial bank licenses issued prior to July 26, 2024, were granted to Bandhan Bank Limited (licensed June 17, 2015) and IDFC Bank Limited (licensed July 2015) following their in-principle approvals on April 2, 2014. A June 24, 2019 Lok Sabha statement by Union Minister of Finance Nirmala Sitharaman and subsequent regulatory records confirm that no other universal bank licenses were issued between 2015 and July 2024.

RBI granted in-principle approvals for new universal private sector banks to IDFC Limited and Bandhan Financial Services on April 2, 2014.
RBI formally issued banking licenses to Bandhan Bank in June 2015 and IDFC Bank in July 2015, with both commencing operations later in 2015.
Union Minister of Finance Nirmala Sitharaman confirmed in a June 24, 2019 Lok Sabha written reply that only two new private sector universal banks had been licensed post-2014.
Media and regulatory reports as of April 2024 confirmed no new universal banking licenses had been granted in the decade following the 2014 approvals.

Checked against

[1] thehindu.com [2] ibef.org [3] bankopedia.co.in [4] indiatoday.in [5] wikipedia.org [6] pib.gov.in [7] thehindu.com [8] akandpartners.in

has RBI granted any universal bank license since Bandhan IDFC RBI in principle approval universal bank Bandhan IDFC RBI universal bank licenses granted since 2014 RBI universal bank licenses list on tap

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Bandhan Bank IDFC Reserve Bank of India

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