Rajen Shah, Chief Investment Officer of Angel Broking said he would be betting on Aditya Birla Nuvo, Bajaj Finserv, Cholamandalam and M&M Financial as he believes these are very strong candidates to get the banking license.
The Reserve Bank of India (RBI) released the final guidelines for issuing new bank licences on Friday. The norm stated that now the corporate houses can enter the banking sector.