Re: {LONGTERMINVESTORS} New banking licenses - Thread

[Rajesh Desai]

RBI likely to issue clarifications on new bank licence norms by next month

The Reserve Bank of India is likely to issue clarifications on new bank licence guidelines as sought by interested entities early next month. The RBI has received queries from various entities. RBI will be posting on its Web site all the relevant clarifications with regard to new bank licence guidelines by this month-end or early next month. The RBI had released guidelines for new bank licences in February, asking the aspirants to submit applications by July 1, 2013.

Many large business groups such as Anil Ambani-led Reliance Group, L&T, Mahindras, Birlas, Religare and Videocon have already made public their intentions to apply for the licences, while many NBFCs including Shriram group, Indiabulls, India Infoline, IFCI and PFC, have also shown interest. Those reported to be interested in banking licence also include Tatas and Mukesh Ambani-led RIL group.


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CA. Rajesh Desai

[Rajesh Desai]

Following are the companies which are applying for Banking License

o    Shriram Transport

o    LIC Housing

o    L&T Finance

o    IDFC

o    Tourism Finance corporation of India

o    Edelweiss

o    Religare

o    Srei Infra

 

Companies not applying for banking license

o    M&M Finance

o    Sundaram Finance

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CA. Rajesh Desai