The Reserve Bank has released final guidelines for issue of licences to new banks in private sector. RBI says, entities or groups in private sector, public sector and Non-bank financial companies – NBFCs are eligible for seeking bank licence. RBI has set 49 per cent cap on foreign holding in new banks and minimum paid-up equity capital at 500 crore rupees.These banks should open at least 25 per cent branches in unbanked rural areas. Corporates, PSUs and NBFCs can set up a bank. The Apex bank says,licence seeker should have 10 years of successful financial track record. Last date for applying for the licence is July 1.