Last week, the Reserve Bank of India released the Draft Guidelines for "Licensing of New Banks in the Private Sector". In an interview to CNBC-TV18, Atul Kumar Rai, chief executive officer and managing director of IFCI said, the company is not among any excluded category and is eligible for banking license.
He further said, IFCI is looking at unlocking value in subsidiaries very soon. “IFCI Factors has already filed for draft red herring prospectus (DRHP).”
Rai said, the company has no exposure to state electricity boards.
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