Bajaj Finserv, IFCI among bank licence applicants

Bajaj Finserv, IFCI among bank licence applicants

State-owned IFCI and financial services provider India Infoline on Thusrday said their boards have given approval to applying to the RBI for bank licences.

Also, in a filing to the BSE, Bajaj Finserv said it has submitted application to the RBI on June 26, 2013, for a licence to commence banking business.

“It is proposed to do this by converting its subsidiary Bajaj Finance Ltd into a bank in terms of RBI guidelines for Licensing of New Banks in the Private Sector dated February 22, 2013,” it said.

In a filing to the BSE, IFCI said, “The board of directors at its meeting held on Thursday has given its approval to submit an application to Reserve Bank of India (RBI) for obtaining the banking licence.”

India Infoline also said that its board of directors at a meeting held on Thursday approved the proposal for making an application to the RBI for the banking licence.