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FORM IV: Form of application for a license to carry on banking business by a company incorporated in India and in existence on the commencement of the Act.

[Rule 11]

(Section 22)

Address ______________

Date _________________

Department of Banking Operations and Development,

Reserve Bank of India,


Dear Sir,

Application for a license to carry on banking business

    We hereby apply for a license to carry on banking in terms of section 22 of the Banking Regulation Act, 1949. We give below the necessary information in the form prescribed for the purpose.

Yours faithfully,

Signature ___________

1. Name of the banking company.

2. Place of location of the registered office of the banking company and of its head office.

3. State whether the banking company is public or private.

4. Date of incorporation.

5. Date of commencement of business.

6. Previous applications : Give particulars of any application previously made to the Reserve Bank in this connection.

7. Management:

(a) Give names, business and address of Directors.

(b) Give the name of the Chief Executive Officer, his qualifications, experience, age and the remuneration paid.

8. Existing offices*

Give the number of offices* in India and a brief description of the system of supervision and control over the branches.

9. Give details regarding the authorized, subscribed and paid-up capital and reserves of the banking company as on the date of the application.

10. Forward an up-to-date copy of the Memorandum and Articles of Association and copies of the balance sheets together with profits and loss accounts statements for the last five years (with certified translations in English, if not in that language).

11. State whether the banking company fulfils the conditions laid down in sub-section (3) of section 22, and whether it is agreeable  to permit the Reserve Bank to satisfy itself by an inspection of the books of the company or otherwise that the prescribed conditions are being fulfilled by the company.

12. Any additional facts which the banking company may wish to adduce in support of its application.        

*includes the registered office and all places of business at which deposits are received 13[cheques cashed, moneys lent, or any other form of business referred to in sub-section (1) of section 6 of the Act is transacted].

NB: (1) If a banking company is unable or unwilling to supply full details in respect of any of the items, reasons for the omission may be given.

(2) If an application has been submitted to the Reserve Bank in the past information under items 2, 3, 4, 5, 7, 8, 9,  and 10 need not be supplied unless there is any change since the last application.

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