IFCI Ltd has decided to apply for a banking licence, joining the race with a large number of corporate houses eyeing a banking foray.

The board of directors of IFCI, a systemically important non-banking finance company, on Thursday gave their nod for IFCI to submit an application to RBI for obtaining the banking licence.

This came as good news for the company’s shares which clocked 20 per cent jump to close at Rs 26.65 on the National stock exchange on Friday


(This article was published on June 28, 2013)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.