We are delighted to note that guidelines for licensing of new banks have finally been issued. The suspense for Industrial Houses has ended and the guidelines clearly state that private sector, Public sector and existing NBFCs shall be eligible. It is heartening to note that the guidelines emphasize the requirement of sound credentials, integrity and successful track record. We of course need to study the detailed guidelines, the fine print and transition provisions.
Mahindra Finance which has strong rural presence and track record of good governance will definitely look at this opportunity after review by its Board and the Board of the parent company Mahindra & Mahindra Limited.
Bharat Doshi, Chairman, Mahindra & Mahindra Financial Services Limited
India Infoline News Service / 08:49, Aug 22, 2014
The outlook is a positive start with indices set to take initial cues from the global markets. US indices closed higher with S&P 500 at a record high. The Dow and S&P 500 added around 0.3% while Nasdaq gained marginally.