 "Stocks of banking licence aspirants gain as EC allows RBI to release permits")
Shares of companies that have applied for a banking licence are in focus in early morning deals today and trading higher by up to 4% after the Election Commission allowed the Reserve Bank of India (RBI) to issue new bank licences.
IDFC, L&T Finance Holdings, LIC Housing Finance, Reliance Capital and IFCI are up 1-4% on the Bombay Stock Exchange (BSE).
In a letter to the RBI governor, the EC said the central bank might take "necessary action as deemed appropriate as permissible under provisions of the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, and/or any other relevant law(s)."
Among the individual stocks IDFC and IFCI has rallied 4% each at Rs 128 and Rs 27.35 respectively. LIC Housing Finance up 2.5% at Rs 243 and L&T Finance Holdings by 2.4% at Rs 77.10 on the BSE.
IDFC, L&T Finance Holdings, LIC Housing Finance, Reliance Capital and IFCI are up 1-4% on the Bombay Stock Exchange (BSE).
In a letter to the RBI governor, the EC said the central bank might take "necessary action as deemed appropriate as permissible under provisions of the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, and/or any other relevant law(s)."
Among the individual stocks IDFC and IFCI has rallied 4% each at Rs 128 and Rs 27.35 respectively. LIC Housing Finance up 2.5% at Rs 243 and L&T Finance Holdings by 2.4% at Rs 77.10 on the BSE.
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