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List of Indian Bank License aspirants

August 1, 2013‐ Mumbai, India

The Reserve Bank of India (RBI) has received as many as 26 applications from a wide variety of entities including brokerage firms, NBFCs, industrial and corporate groups and even from Government enterprises.

The list includes:

  • 1. Aditya Birla Nuvo Ltd., Mumbai.
  • 2. Bajaj Finserv Ltd., Pune.
  • 3. Bandhan Financial Services Pvt. Ltd., Kolkata.
  • 4. Department of Posts, New Delhi.
  • 5. Edelweiss Financial Services Limited, Mumbai.
  • 6. IDFC Limited, Mumbai.
  • 7. IFCI Limited, New Delhi.
  • 8. Indiabulls Housing Finance Limited, New Delhi.
  • 9. India Infoline Ltd., Mumbai.
  • 10. INMACS Management Services Limited, Gurgaon.
  • 11. Janalakshmi Financial Services Pvt. Ltd., Bangalore.
  • 12. J M Financial Limited, Mumbai.
  • 13. LIC Housing Finance Ltd., Mumbai.
  • 14. L & T Finance Holdings Limited, Mumbai.
  • 15. Magma Fincorp Limited, Kolkata.
  • 16. Muthoot Finance Limited, Kochi.
  • 17. Reliance Capital Limited, Mumbai.
  • 18. Religare Enterprises Limited, New Delhi.
  • 19. Shriram Capital Limited, Chennai.
  • 20. Smart Global Ventures Pvt. Ltd., Noida.
  • 21. SREI Infrastructure Finance Limited, Kolkata.
  • 22. Suryamani Financing Company Limited, Kolkata.
  • 23. Tata Sons Limited, Mumbai.
  • 24. Tourism Finance Corporation of India Limited, New Delhi.
  • 25. UAE Exchange & Financial Services Ltd., Kochi.
  • 26. Value Industries Limited, Aurangabad. (Videocon Group)

Bank licenses in India are considered a precious thing. This is because of the huge untapped banking space available giving an opportunity for even the new entrants. Looking at the past history, the RBI has only given 10 licenses in 1993 and 2 more in 2001. Yes Bank and Kotak Mahindra Bank got the approvals in 2001.

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