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L&T Finance may not be able to set up NOFHC
June 6, 2013June 6, 2013by In Infrastructure Finance

L&T Finance may not be able to set up NOFHC

L&T Finance Holdings, which aspires to set up a banking business, may not be able to set up a non-operative financial holding company (NOFHC) as mandated by the Reserve Bank of India (RBI) because its public shareholding is below 51 per cent. According to the clarification issued by the central bank on new bank license norms, private players aspiring to enter the banking space need to create a NOF