The RBI's draft guidelines on new bank licences were welcomed by the NBFC industry and financial experts. A number of NBFCs, including Shriram Transport Finance, LIC Housing Finance, SREI Infrastructure Finance and IFCI, are among the hopefuls.

Mr R. Sridhar , Managing Director, Shriram Transport Finance Company, a leading NBFC and bank licence aspirant, said: “We have been nurturing ambitions of starting a bank.

“We are definitely interested. If the licences are to be given on the lines indicated and given the focus on financial inclusion, we have a good opportunity.”

Mr Robin Roy , Associate Director, Pricewaterhouse Coopers, said that the guidelines did not have many surprises and the debate on corporate entry had been laid to rest.

He said, “The only note of caution is that amendments to the Banking Regulation Act have to be carried out and when this will happen is anybody's guess.”

He added, “The holding company structure will ensure that each business of the group is run independently and there is ring fencing of the banking activity. The guidelines are trying to ensure that the systemic risk does not increase. Banks need more stable management, especially in the build-up phase.”

Mr Viren H. Mehta , Director, Ernst & Young, India, also said the guidelines for new bank licences were partly on expected lines and partly new.

He said, “The norm for new banks to list in two years is new. Considering the past two-three years' market conditions, it must be seen if it is too early for banks to list within two years of starting operations.

“Now there is clarity that corporates can enter banking and there is the framework for how they can do. There is a clear indication that the intent is to allow corporates to enter, subject to conditions.

“Some clarity is required on the promoters' group businesses that are unlisted and should those be listed or not before applying for banking licence.”

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