<p>With the RBI issuing guidelines for new bank licences, diversified group Videocon Industries said on Sunday that it will enter the banking sector with a foreign partner and has earmarked Rs 1,000 crore for the purpose.<br /><br /></p>.<p>Videocon Industries Chairman Venugopal Dhoot said that his company meets the criteria set by Reserve Bank of India (RBI) for new banking licences. <br />When asked about the business model, he said: “We are talking to an American bank now. Our idea is to be a majority stakeholder and then dilute stake to public to meet regulatory norms in future.”<br /><br />The guidelines issued by the RBI stipulate that applicants should apply for licence by July 1, 2013.</p>
<p>With the RBI issuing guidelines for new bank licences, diversified group Videocon Industries said on Sunday that it will enter the banking sector with a foreign partner and has earmarked Rs 1,000 crore for the purpose.<br /><br /></p>.<p>Videocon Industries Chairman Venugopal Dhoot said that his company meets the criteria set by Reserve Bank of India (RBI) for new banking licences. <br />When asked about the business model, he said: “We are talking to an American bank now. Our idea is to be a majority stakeholder and then dilute stake to public to meet regulatory norms in future.”<br /><br />The guidelines issued by the RBI stipulate that applicants should apply for licence by July 1, 2013.</p>