The
BK Modi-promoted Spice Group will apply for a banking licence in India
and is in talks with an unnamed bank in Singapore to offer a stake in
the venture if it manages to get an approval from the central bank, the
chairman of the group has said. Spice Group, which is headquartered in
Singapore, has already brought on board former Sebi chief DR Mehta and
former senior executives of Citibank and HDFC Bank to prepare a blue
print for its banking foray, using Spice’s existing telecom and retail
business, said Modi, who is chairman of the group................
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