With just six days left for corporates to apply for a new bank licence, CNBC-TV-18's Aastha Maheshwari learns diversified business conglomerate Videocon Group is likely to apply for a banking licence on Tuesday, subject to board approval.
Also read: ONGC jumps gun, announces Videocon deal before it is due Sources told CNBC-TV18 that Videocon will create a separate subsidiary and is likely to rope in a foreign partner. However, Videocon is likely to hold majority stake in this new subsidiary. Meanwhile, the Mahindra group has decided to stay away. In fact, Mahindra Finance has slammed the RBI norms saying they put large NBFCs at a disadvantageous position.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
