Likely contenders of banking license rally

Banking license's likely contenders gained on Monday after the Reserve Bank of India (RBI) said corporates 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). ''However, they need to have sound credentials, integrity and financials with a successful track record of 10 years.''

Bajaj Finance climbed the most with rise of 2.22%, followed by Rural Electrification Corporation (1.85%) and IDFC (1.51%). In Aditya Birla group, Aditya Birla Money jumped (9.67%) and Aditya Birla Nuvo climbed (2.35%). In Religare group, Religare Enterprises jumped 9.08% and Religare Technologies up 4.98%. India Infoline climbed 2.03%, to trade at Rs 73.