Tata Sons, one of the 26 entities that had applied to the Reserve Bank of India for new banking license, today withdrew its application.
Magma Fincorp, a Kolkata based non-banking finance company, decided to apply to the Reserve Bank of India (RBI) for a new banking license. The company‘s board which met Wednesday approved the decision to go ahead with the application process.
The Reserve Bank of India may issue only three our four new bank licenses and NBFCs will find it difficult to meet RBI guideline after the recent clarification by the regulator on new bank license norms.
L&T Finance, which has applied for a banking license, may find some challanges going ahead due to RBI's clarifaction on new license norms, reports Latha Venkatesh.
Ernst & Young tell some of the key pros and cons of deal between JM Financial and Vikram Pandit and also point of how financial inclsuin could be come the prime challenge for Pandit while assisting in new back license application.
The Reserve Bank of India (RBI) on Friday issued the final guidelines for licensing of new private sector banks wherein entities both from private and public sector shall be eligible to set up a bank through a wholly-owned non-operative financial holding company (NOFHC).