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Banking licence: Srei also warms up

PTI  New Delhi, March 11, 2013
First Published: 23:12 IST(11/3/2013) | Last Updated: 23:13 IST(11/3/2013)

Financial services group Srei plans to apply for a banking licence to set up a bank with strong rural presence and would not rope in any domestic or foreign partner in this venture.

The group sees its already strong presence in rural areas as a major advantage for its possible banking foray, as the RBI has proposed a minimum of 25% presence in rural areas for the new banks.

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