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IDFCs board approves proposal to seek banking licence from RBI

By Religare

IDFC, a leading finance company in India providing end to end infrastructure financing and project implementation services, said that its board has approved a proposal to seek licence from RBI for setting up a bank.

In a filing on the BSE, IDFC said that its board has approved a resolution for making an application to the Reserve Bank of India (RBl) for obtaining a banking licence.

According to the reports, the licence would be sought based on the guidelines for licensing of new banks in the private sector dated February 22 and the associated clarifications issued by RBI on June 3.

Read more about: idfc
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