Shares of companies that have applied for a banking license are trading higher by up to 4% on reports that the advisory committee headed by former Reserve Bank of India (RBI) governor Bimal Jalan is expected to give its report by this weekend.
Muthoot Finance, L&T Finance Holdings, IDFC, India Infoline and LIC Housing Finance are up 3-4%, while Aditya Birla Nuvo, Reliance Capital, Bajaj Finance, Religare Enterprises and Edelweiss Financial Services are up 1-2% on the BSE.
The committee, which is screening the 25 bank licence applications, will meet on Tuesday. This might be its final meeting before it gives its recommendations to the central bank, the Business Standard report suggests.
RBI had constituted the Jalan committee to examine the fit-and-proper criteria, business plans, corporate governance practices, etc, of applicants.
Muthoot Finance, L&T Finance Holdings, IDFC, India Infoline and LIC Housing Finance are up 3-4%, while Aditya Birla Nuvo, Reliance Capital, Bajaj Finance, Religare Enterprises and Edelweiss Financial Services are up 1-2% on the BSE.
The committee, which is screening the 25 bank licence applications, will meet on Tuesday. This might be its final meeting before it gives its recommendations to the central bank, the Business Standard report suggests.
RBI had constituted the Jalan committee to examine the fit-and-proper criteria, business plans, corporate governance practices, etc, of applicants.
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