Bajaj Finserv eyes banking biz
Monday, 25 January 2010
MUMBAI, Jan 24 (PTI): The Bajaj Group is gearing up to enter the banking business and considering applying for a licence through its financial services arm--Bajaj Finserv, a top company official said.
Bajaj Finserv's keenness to enter banking stems from the fact that the Union Finance Ministry is understood to be considering allowing high-performance NBFCs to convert themselves into banks.
"We are keen to enter the banking business and will consider applying for a licence once the Reserve Bank comes out with regulations allowing non-banking finance companies (NBFCs) to convert themselves into banks," Bajaj Finserv's Managing Director, Sanjiv Bajaj, told newsmen here today.
Bajaj Finserv's keenness to enter banking stems from the fact that the Union Finance Ministry is understood to be considering allowing high-performance NBFCs to convert themselves into banks.
"We are keen to enter the banking business and will consider applying for a licence once the Reserve Bank comes out with regulations allowing non-banking finance companies (NBFCs) to convert themselves into banks," Bajaj Finserv's Managing Director, Sanjiv Bajaj, told newsmen here today.