Speaking to CNBC-TV18, president & whole time director N Sivaraman said if there is an opportunity, and the Reserve Bank is favourably disposed, then they will definitely look at acquiring a bank licence.
Among group companies, L&T Finance Holdings is most likely to apply for banking license, CMD YM Deosthalee clarifies.
L&T Finance Holdings in its fourth quarter result today reported an increase in profit after tax by around 22 percent to Rs 171 crore on year-on-year basis, the result was driven by robust loan growth and spike in other income.
RBI on Friday laid the new bank licensing norms. If an NBFC (Non-Banking Financial Banking Company) does convert into a bank, N Sivaraman, President & Wholetime Director, L&T Finance, told CNBC-TV18 that they have to very carefully phase it.
In an interview to CNBC-TV18, R Shankar Raman, chief financial officer, L&T says clearance of Banking Bill is a positive.
L&T Finance Holdings has acquired auto finance company FamilyCredit from its French parent for Rs 120 crore.
N Sivaraman, president and whole-time director of L&T Finance Holdings spoke to CNBC-TV18 about the latest happenings with the company and the way ahead.
In an interview to CNBC-TV18, N Sivaraman, president and whole-time director of L&T Finance Holdings says, in the next quarter, he sees benign interest rate environment on the fixed rate. “That should help the NBFCs a bit,” he adds.
With the microfinance scenario becoming more positive than it was two-three months ago, N Sivaraman, president and whole-time director of L&T Finance Holdings is hopeful that things will improve going forward.
The new banking license guidelines are in-line with our expectations, said YM Deosthalee, chairman and managing director of L&T Finance Holdings.