IDFC, Bandhan Financial get RBI nod for banking licence

The Reserve Bank of India (RBI) on Wednesday gave its in-principal nod for new bank licences to IDFC and Kolkata-based Bandhan Financial Services Pvt Ltd. There were 25 applicants (listed below) in the fray for new bank licences, but only the 2 recieved it!

The 25 Applications for new bank licences were from - Aditya Birla Nuvo, Bajaj Finserv, Bandhan Financial Services Pvt Ltd (Kolkata), Department of  Posts, Edelweiss Financial Services, IDFC, IFCI, Indiabulls Housing Finance,India Infoline, INMACS Management Services (Gurgaon), Janalakshmi Financial Services Pvt Ltd (Bangalore), JM Financial, LIC Housing Finance,L&T Finance Holdings, Magma Fincorp (Kolkata), Muthoot Finance, RelianceCapital, Religare Enterprises, Shriram Capital, Smart Global Ventures Pvt Ltd (Noida), SREI Infrastructure Finance (Kolkata), Suryamani Financing Company (Kolkata), Tata Sons, Tourism Finance Corporation of India, UAE Exchange & Financial Services (Kochi) and Value Industries (Videocon from Aurangabad).

Though, Tata Sons later withdrew its application.

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