Banking licence: Srei also warms up

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.

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.

HT Image

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.