The Reserve Bank of India on Monday unveiled the draft guidelines on new banking licenses, pegging the minimum required capital to set up a bank by a corporate at 500 crore rupees. At present, the minimum capital requirement for the banking sector is 300 crore rupees. The RBI said, in its draft guidelines on new banking licenses, that the aggregate foreign shareholding in the new bank should not exceed 49 per cent for the first five years. Currently, the foreign shareholding in private sector banks is allowed up to 74 per cent of the paid-up capital. On the corporate structure, the apex bank said the new banks will be set up only through a wholly-owned non-operative holding company to be registered with the Reserve Bank as a non-banking finance company, which will hold the bank, as well as all the other financial companies in the promoter group. Private sector entities or groups owned and controlled by Indian promoters, with diversified ownership, sound credentials and integrity, and having successful track record of at least 10 years will be eligible to promote banks, it said. However, entities or groups having 10 per cent or more income or assets, or both, from real estate, construction and broking activities, individually or taken together, in the last three years, will not be eligible to set up new banks.