Bajaj group has been looking to enter the banking division. But it may require some time for entry as RBI is not very enthused about giving banking licenses to major industrial houses. But Rahul Bajaj, chairman of Bajaj Finserv and Bajaj Auto Finance, is optimistic in this respective.
The entry of the company in the sector is entirely based on the directives laid down by RBI for giving new banking licenses to corporates. The RBI guidelines were due to be released in July.
Bajaj Group’s venture into the banking segment is supported by shareholders of Bajaj Auto Finance as well as Bajaj Finserv. Bajaj told these shareholders “We are in principle interested in getting into banking”.
Bajaj said that it was not right in refusing banking licenses to corporates and that the number of reasons for approval far exceeded those for refusing them.
He said, “Give it to the good guys and not those who will run away with the depositor’s money. We can’t go back to the old policies in this age and time”.