.......The RBI hasn’t said how many licences it plans to issue but it is safe to assume that the winners will include a mix of industry houses, state-owned companies and small financial services outfits. The regulator has already indicated that it will cherry pick industrial houses with squeaky-clean reputations, diversified ownership, and with little or no exposure to the real estate and broking businesses. It has said it would run a detailed background check on the applicants with other regulators and enforcement and investigative agencies. In the case of the Tatas and the Birlas, it will be a sort of second coming if they win the licences...........
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