There will be more competition in banking, with the finance minister announcing that RBI is considering issue of fresh bank licences to private sector players and finance companies if they meet the RBI eligibility criteria. Religare, Shriram Group, Birla group, Anil Ambani group and Bajaj group have said that they would be interested in a banking license and are awaiting guidelines while South based Sundaram Finance has said it is not interested in a banking license. Among finance companies, Indiabulls had also earlier shown an interest in getting into banking. Lenders such as IDFC, Exim Bank and SIDBI have also shown interest for a banking licence. There are currently 15 old private sector banks and seven new private sector banks.
Source:ingvysyabank.com
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