Tough norms leave NBFCs’ banking hopes in a muddle

After an almost decade-long wait, nonbanking finance companies (NBFCs) are divided over whether to apply for a banking licence or not.

The Reserve Bank of India's clarifications on banking licence guidelines and its tough stance on not compromising on the holding structure is forcing groups such as Shriram Transport to have second thoughts about applying for the banking licence unless the central bank waters down some of the proposals.

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