APRA Licenses IN1Bank Ltd as Restricted Deposit-Taking Institution

APRA announced that it has granted IN1Bank Ltd a license to operate as a restricted authorized deposit-taking institution, under the Banking Act 1959. This authority commences on December 12, 2019 and ceases to have effect on December 12, 2021. The register of authorized deposit-taking institutions on the APRA website lists APRA-regulated institutions, including Australian-owned banks, foreign subsidiary banks, branches of foreign banks, restricted authorized deposit-taking institutions, and providers of purchased payment facilities.