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Tata, Reliance, 24 other applicants for new bank licences

Mumbai, Jul 1: Tata, Reliance groups along with 24 other applicants have applied to the Reserve Bank of India (RBI) for new bank licences. "The Reserve Bank of India in all received 26 applications," RBI said on Monday, July 1 which was the last date for applying for bank licence. 
 
RBI had issued guidelines to allow corporate houses to set up banks in February this year as part of its effort to extend financial services to people across the country. Here is the list of 26 applicants for new bank licences.
 
1. Tata Sons 
2. Reliance Capital 
3. Bajaj Finserv
4. LIC Housing Finance 
5. Aditya Birla Nuvo 
6. Department of Posts 
7. Bandhan Financial Services 
8. Edelweiss Financial Services 
9. IDFC 
10. IFCI 
11. Indiabulls Housing Finance 
12. India Infoline 
13. INMACS Management Services 
14. Janalakshmi Financial Services 
15. J M Financial 
16. L&T Finance Holdings
17. Magma Fincorp 
18. Muthoot Finance 
19. Religare Enterprises 
20. Shriram Capital 
21. Smart Global Ventures 
22. SREI Infrastructure Finance 
23. Suryamani Financing Company 
24. Tourism Finance Corporation of India 
25. UAE Exchange & Financial Services
26. Videocon's subsidiary Value Industries
 
The winners of bank licences are expected to be announced by early 2014.
 
Posted by Cyril
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