Big guns may get banking licences
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New Delhi, Nov. 21 -- A Reserve Bank of India (RBI) panel on Friday recommended giving banking licences to large industrial houses, potentially allowing the Aditya Birla group, the Tata group and Reliance Industries Ltd to apply for banking licences.
The panel has also suggested that large non-bank lenders with asset sizes of more than Rs.50,000 crore, including those owned by corporates, should be considered for conversion into banks, provided they have completed 10 years of operation. The proposal, if accepted, will make Bajaj Finance Ltd, L&T Finance Holdings Ltd, Shriram Transport Finance Ltd, Tata Capital Ltd and Mahindra and Mahindra Financial Services Ltd prime contenders for banking licences.
Sanjiv Bajaj, chairman and managing ...
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