.......“In-principle approval to 12 others does not mean much. The idea is to trigger them into action. Maybe, they are waiting to see whether Tatas white-label business makes money and then start their operations,” the RBI official said. However, these companies have another grouse – the RBI has not yet granted them their demand to extend the licence period to 5 years from the current one year. The companies say this initial authorisation of one year is too less to plan long term and attract equity...............
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