Stocks of bank licence aspirants attract buying, Bajaj Finance, Reliance Capital shares surge

Sep 05 2013, 19:34 IST
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Rajan said an external committee headed by Bimal Jalan would be constituted to screen the 26 applications for bank licences. Rajan said an external committee headed by Bimal Jalan would be constituted to screen the 26 applications for bank licences.
SummaryRajan said an external committee headed by Bimal Jalan would be constituted to screen the applications.

Shares of companies that have applied for banking licence were in demand today, rising up to 7.6 per cent, after the Reserve Bank said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."

Bajaj Finance Ltd shares surged 7.61 per cent, while Reliance Capital Ltd climbed 6.65 per cent and IDFC Ltd 6.19 per cent on the BSE.

Among others, LIC Housing Finance Ltd rose by 5.49 per cent IFCI Ltd (5.70 per cent), Aditya Birla Nuvo Ltd (3.98 per cent) and India Infoline Ltd (2.54 per cent).

Raghuram Rajan, who yesterday took charge as the 23rd Governor of the central bank, said an external committee headed by former RBI Governor Bimal Jalan would be constituted to screen the 26 applications for bank licences.

"I hope to announce the licences within, or soon after, the term of Deputy Governor Anand Sinha who has been shepherding the process. His term expires January 2014," the RBI Governor said at his maiden press briefing soon after taking charge.

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