Edelweiss, SREI to seek bank licences

Joining the list of banking aspirants, financial services firms SREI Infrastructure Finance and Edelweiss Financial on Monday said they will apply to RBI for seeking bank licences.

The board of the company at its meeting today, has decided to submit an application to the RBI for obtaining a banking license, based on the guidelines for licencing of new banks in the private sector dated February 22, 2013, SREI Infrastructure Finance said in a filing on the BSE.

Shares of the Kolkata-based company closed at Rs 25.20 per unit, down by 1.37 per cent on the BSE.

Edelweiss Financial in a separate filing said, the board has approved proposal for making an application to the RBI for a banking licence.

Meanwhile, another NBFC Mahindra Finance, on Monday said it will not apply for bank licence as RBI guidelines are disadvantageous for large NBFCs.

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