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Which of the following statements are incorrect about the norms for issuance of new banking licenses?
For first five years foreign holding limited to 49%
New Banks to open at least 50% branches in unbanked rural areas
New Banks to comply with priority sector lending norms
New Banks need to get shares listed within 3 years
2nd statement is incorrect. The bank shall open at least 25 per cent of its branches in unbanked rural centres (population upto 9,999 as per the latest census).
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