…mulls banking foray

Being a NBFC and its decades of experience in financial services sector in India, Shriram group is mulling entering the banking sector. The group will be soon hiring leading consultants to have a thorough analysis on why should the group enter into banking area,

Written by Banking Bureau

July 17, 2008 02:25 IST

?We are examining the nuances of getting into banking sector. We will be soon hiring consultants for conducting exercise on the possibilities of getting into banking sector. The exercise include whether to go independently, associating with someone (some banks) or take partners. We hope to take a call by the end of this year,? said R Thyagarajan, Chairman, Shriram group.

Citing recent RBI diktats on some of the financial services and NBFC companies in India, he said: ?We don?t see any problem and hope that RBI will be in our favour if we decide to take a plunge into banking sector.?

This article was first uploaded on July seventeen, twenty eight, at twenty-five minutes past two in the night.