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Tata, Birla, Bajaj, and Piramal Group may lead race for bank licence

A top Tata group official said the group is really interested in getting into banking but it is too early to elaborate as only recommendations are out and work is in nascent stage

Private banks have better loss-absorption capacity, but are nonetheless bolstering core capital
As of March 31, Tata Capital Financial Services had net worth of Rs 6,213 crore

Top Indian conglomerates led by Tata, Birla, Piramal, and Bajaj will seek a banking licence provided the norms for conversion of non-banking finance companies (NBFCs) are made easier and comprehensive regulation does not apply to rest of the group firms, sources said. A top Tata group official said the group is really interested in getting into banking but it is too early to elaborate as only recommendations are out and work is in nascent stage. “We will look at it when financial rules are framed,” the official said while asking not to be quoted. A Tata insider said ...