Thursday, June 27, 2013

Reliance Capital to apply for banking licence

Reliance Capital of the Anil Ambani group announced on Wednesday that it will be submitting an application for a banking licence with the Reserve Bank of India. Sumitomo Mitsui Trust Bank and Nippon Life Insurance, two leading financial institutions from Japan propose to take between 4-5 per cent stake each in the proposed new bank subject to necessary regulatory approvals, the company informed the stock exchanges............

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