Non- Banking Financial Companies (NBFCs) surged on Monday after
India's central bank released guidelines on new banking licenses in
the private sector on Friday. The Reserve Bank of India said the
existing NBFCs may be permitted to promote a new bank or convert
themselves into banks.
Entities in the private and public sector and NBFCs will be
eligible to set up a bank through a wholly-owned Non-Operative
Financial Holding Company (NOFHC), the RBI said. However, they need
to have sound credentials, integrity and financials with a
successful track record of 10 years.
The initial minimum paid-up voting equity capital for a bank
shall be Rs 5 billion. The bank shall get its shares listed on the
stock exchanges within three years of the commencement of business
by the bank.
SREI Infrastructure Finance climbed the most with rise of 5.97%,
followed by Mahindra & Mahindra Financial Services (5.65%),
L&T Finance Holdings (4.95%), LIC Housing Finance (2.73%),
Reliance Capital (2.03%), Power Finance Corporation (1.59%) and
Indiabulls Financial Services (0.49%).
Comments(1)
this is good offer from rbi for all finance com.
Posted by KUSUMGUPTA at 02/26/2013 11:30 Reply to this Report abuse