Likely contenders of banking license rally
25th February 2013 12:18 PM
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.
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