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Shares of companies which aspire to set up banks will remain active in the coming days with the Election Commission on Tuesday permitting the RBI to issue licences. The approval followed the RBI missing the March-end deadline for issuing bank licences. India Post, IFCI, Anil Ambani group, Aditya Birla group, Bajaj Finance, Muthoot Finance, Religare Enterprises and Shriram Capital are among 25 players in the fray. It is now expected that the RBI would expedite the process quickly.
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