NBFC shares gain on RBI guidelines

MUMBAI (Reuters) - India's non-banking financial shares gain on Monday after the RBI issued guidelines allowing any business sector to apply for banking licenses.

M&M Financial shares were up 6.4 percent at 10:09 a.m.

IDFC Ltd , a lender and consultant for infrastructure projects, was up 1.8 percent.

(Reporting by Rafael Nam; Editing by Anand Basu)