Wednesday, June 26, 2013

Birla, Dhoot join banking bandwagon

.............Aditya Birla Nuvo today said its board of directors had approved a proposal to apply for one of the new bank licences. It is the holding company of Aditya Birla Financial Services, the group’s non-banking financial company (NBFC). Another large industry house, Videocon Industries, gave its application for a bank licence today. Venugopal Dhoot, chairman, said: “Videocon is a mass brand, with strong rural identification. Therefore, it will have great visibility (as a bank).” Unlike most of the new banking aspirants, Videocon is not present in the financial services sector................

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