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09-06-2013, 05:08 AM #1
Stocks of bank licence aspirants surge over 7 per cent
Shares of companies that have applied for banking licence were in demand on Thursday, rising up to 7.6 per cent, after the Reserve Bank of India said it plans to issue new bank licences around January.
Raghuram Rajan, who on Wednesday took charge as the 23rd Governor of the central bank, said an external committee headed by former RBI Governor Bimal Jalan would be constituted to screen the 26 applications for bank licences.
"I hope to announce the licences within, or soon after, the term of Deputy Governor Anand Sinha who has been shepherding the process. His term expires January 2014," the RBI Governor said at his maiden press briefing soon after taking charge.
Cheering the news, Bajaj Finance scrip surged 7.61 per cent while Reliance Capital climbed 6.65 per cent. IDFC 6.19 per cent on the Bombay Stock Exchange.
Among others, LIC Housing Finance rose 5.49 per cent, IFCI (5.70 per cent), Aditya Birla Nuvo (3.98 per cent) and India Infoline (2.54 per cent).