Even though it was a short week, the market performed well gaining 6% in three days. However, it was the RBI that delieverd two big announcements making it a big week for corporates.
The draft guidelines for the licensing of new banks have given many private players a chance to foray into the banking space. Currently, the RBI is asking the industrial community to comment on the draft by October 31 after which the final guidelines will be issued. A few players who are expected to throw their hat in the ring are SREI Infrastructure, Bajaj Finserv and Future Capital. The RBI also released the Usha Thorat committee report on non banking financial companies or NBFCs on Monday. This report makes a few recommendations aiming to strengthening the regulatory and supervisory framework for such lenders. If implemented, these norms will affect the profitability of NBFCs. On a more sober note, IndiaDiscover 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!
