Business Daily from THE HINDU group of publications Saturday, Mar 29, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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NBFCs JRG Fin gets nod for NBFC ops Kochi, March 28 JRG Fincorp, a joint venture company formed between JRG Securities and Baring India Ltd, has received all regulatory approvals from the Reserve Bank of India to begin NBFC operations in the country. The new company has been formed to fund the securities and commodities business. JRG officials said that the new company would help JRG substantially in boosting the company's future revenue and expansion plans. In a press statement, the Managing Director of JRG Securities, Mr Regi Jacob, said that the NBFC plans to raise funds to the tune of Rs 50 crore from financial institutions and banks for further expansion. - Our Bureau More Stories on : NBFCs | RBI & Other Central Banks
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