Which of the following is not an eligibility condition placed in the ‘Draft Guidelines for Licensing of New Banks in the Private Sector’ issued by the Reserve Bank of India on 29th August 2011?

A

New banks must have a minimum capital of Rs. 500 crores from the beginning.

B

Only credible groups with 10 years track record will be eligible to set up banks.

C

Foreign shareholding in the new bank shall not exceed 5% for the first 5 years.

D

Groups having 10% or more income or assets or both from real estate construction or broking business or both in last 3 years will not be eligible.