BANK NEWS
Corporate hands on Banking Sector most NBFCs are corporate groups
New Delhi: Keeping the RBI's criteria to get a banking licence with assets of Rs 50, 000 crores, half of the measured NBFCs are qualifying the norms.
The RBI's norm mentioned that the well-run NBFCs with assets of the above Rs 50, 000 crores including which are owned by the corporate houses may be considered for the conversion.
The including finance companies are owned by the Tata Capital, Aditya Birla Capital, Bajaj Finance, L&T Finance Holdings, Mahindra Finance, HDFC is already a promoter of bank and many more NBFCs are there who have the sufficient assets to get in the criteria of Reserve Bank of India.
Further, Indiabulls once tried to get the bank's licence but didn't get by the RBI, likely there is a big challenge on the conversion of the NBFCs into a bank which will cost the higher investment in technology and setting it up.
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