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In order to expand banking facilities,RBI has issued guidelines to allow corporate houses to set up banks.
The Reserve Bank of India in all received 26 (twenty six) applications. The names of the applicants are:
- Aditya Birla Nuvo Ltd., Mumbai.
- Bajaj Finserv Ltd., Pune.
- Bandhan Financial Services Pvt. Ltd., Kolkata.
- Department of Posts, New Delhi.
- Edelweiss Financial Services Limited, Mumbai.
- IDFC Limited, Mumbai.
- IFCI Limited, New Delhi.
- Indiabulls Housing Finance Limited, New Delhi.
- India Infoline Ltd., Mumbai.
- INMACS Management Services Limited, Gurgaon.
- Janalakshmi Financial Services Pvt. Ltd., Bangalore.
- J M Financial Limited, Mumbai.
- LIC Housing Finance Ltd., Mumbai.
- L & T Finance Holdings Limited, Mumbai.
- Magma Fincorp Limited, Kolkata.
- Muthoot Finance Limited, Kochi.
- Reliance Capital Limited, Mumbai.
- Religare Enterprises Limited, New Delhi.
- Shriram Capital Limited, Chennai.
- Smart Global Ventures Pvt. Ltd., Noida.
- SREI Infrastructure Finance Limited, Kolkata.
- Suryamani Financing Company Limited, Kolkata.
- TATA Sons Limited, Mumbai.
- Tourism Finance Corporation of India Limited, New Delhi.
- UAE Exchange & Financial Services Ltd., Kochi.
- Value Industries Limited, Aurangabad.
Source* RBI