Over dozen corporates, PSUs queue up for banking licences
setting up a bank will be Rs 500 crore. The cap on the foreign investment, including FDI/FII and NRI, has been set at 49 per cent.
An official in the Finance Ministry, which controls majority stake in term lender IFCI, said the entity would also like to be considered for new bank licence.
IFCI lost out on bagging licence in 1993 when two other term lender ICICI and IDBI were permitted to open banks.
The company will discuss about foraying into the banking sector in the board meeting, IFCI CEO and Managing Director Atul K Rai said.
Aditya Birla Group CEO Ajay Srinivasan Chief Executive of Aditya Birla Group's Financial Services said: "Our group remains committed to meeting financial needs of its target customers. We intend to apply for a banking licence."
CEO of Reliance Capital Sam Ghosh said: "We will be interested in applying for a banking licence."
When asked whether IndiaBulls will apply for a banking licence, its Group Director Ajit Mittal said: "We have an open mind. We will take a view. The Board will decide in due course of time."
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