Mumbai : Chennai-based Shriram Group, which failed to secure a banking licence in the recent round of licencing, has not given up the hope and is now looking at applying for a small bank licence, reports PTI.
The Reserve Bank had in July issued the draft guidelines for licencing of small banks and payment banks.
“Once the RBI comes out with the final guidelines and if we know that there is an opportunity for us then we will definitely apply for it,” Shriram Group director G S Sundarajan said. He said his group will apply for a small bank licence only if the regulations do not affect its existing businesses. He said the group wants to get into banking space as it would fill up the gap it has in terms of our product offerings.
