Shares of banking aspirants have gained between one and seven per cent in early trade on Thursday.
Diversified conglomerate Aditya Birla Nuvo’s board had on Wednesday decided to approach the Reserve Bank of India for a banking licence. Reliance Capital and Magma Fincorp too have made similar announcements.
The promoters of Religare Enterprises Ltd have announced disinvestment of shares, including to a US-based bank (Customers Bancorp Inc.), to align their shareholding with the new bank licensing norm.
The Anil Ambani-controlled Reliance Capital said that two financial behemoths from Japan — Nippon Life Insurance and Sumitomo Mitsui Trust Bank — have agreed to take 4-5 per cent stake each in the proposed bank.
Last week, IDFC Ltd board too had approved a resolution to apply for bank licence.