Epic Update : Bajaj Finserv

Bajaj Finserv has submitted an application to the Reserve Bank of India on June 26, 2013 for a License to commence banking business in terms of section 22 of the Banking Companies Act, 1949. The company has proposed to convert its subsidiary, Bajaj Finance into a Bank in terms of RBI Guidelines for Licensing of New Banks in the Private Sector dated February 22, 2013.   

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