NBFCs fall on reports of bank license meet postponement

Shares in non-banking finance companies which have applied for bank licenses fall on media reports the Election Commission would not be holding a meeting on Monday regarding the issuance of new licenses, citing unnamed officials.

The Reserve Bank of India has sought the Election Commission's approval to announce new bank licenses ahead of the polls due to conclude by May and media reports had said the commission could meet on Monday.

A spokesman for the commission reiterated no decision on bank licenses had been made.

Shares in LIC Housing Finance fell 1.7 percent, L&T Finance Holdings was down 1.46 percent and IDFC Ltd lost 3.66 percent.

EDITORIAL OF THE DAY

  • Legalising betting on cricket will raise tax collections for cash-strapped government

    Last month, Justice RM Lodha committee on cricket reforms made several groundbreaking recommendations to the Supreme Court.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Tablets, memory cards for educatioNext

The Commonwealth he­ads of government mee­ting held in Malta last ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture