Religare forms panel to apply for banking licence

Financial services provider Religare Enterprises on Tuesday said it had set up an advisory panel that would support management's effort in seeking banking licence under guidelines issued by the Reserve Bank of India.

Suman Bery, a former special consultant to the RBI, and Kiran Karnik, former president of India's software services association Nasscom, have joined the panel and more would follow, the company said.

Religare said it was confident that it would qualify on the all the key norms laid out for new banking licence.

Source: Business Standard