Shriram Finance seeks RBI approval for primary dealership licence

Shriram Finance, one of the largest non-banking financial companies (NBFCs) in the country, is eyeing a standalone primary dealership (PD) licence from the Reserve Bank of India (RBI), to underwrite auctions of government securities, according to multiple people in the know.

 

RBI is very selective about granting PD licences. If granted, Shriram Finance will be one of the first non-bank entities to receive a PD licence in recent times.

 

DSP Finance, the NBFC arm of Hemendra Kothari’s DSP Group, is also planning to apply for a PD licence, sources said. The NBFC currently offers loans against mutual funds and structured