The RBI on Monday unveiled draft guidelines for issuing new banking licences that limit foreign shareholding in start-up banks to 49% for that first five years and allows no one foreign owner to hold a lot more than 5%.
"We are open to have discussion with global banks or financial services institutions who wish to enter into market like India and Religare has the option whether they are able to participate at the bank or they can have broader partnership with Religare in general, " Sachindra Nath told Reuters.