IDFC and Bandhan Financial Services have emerged winners among a list of 25 hopefuls, with the RBI giving the two NBFCs in-principle nod for a bank licence.
We have 216 branches, 13,000 employees, around 54 lakh borrowers and the loan outstanding amount currently stands at Rs 6000 crore.
Chandra Shekhar Ghosh
Bandhan Financial Services
Chandra Shekhar Ghosh of Bandhan Financial Services says this in-principle nod from RBI for banking licence is the recognition to the micro finance sector which provide services to the unbanked people.
IDFC and Bandhan Financial Services have emerged winners among a list of 25 hopefuls, with the RBI giving the two NBFCs in-principle nod for a bank licence .
Answering a query on what would the biggest challenge now in front of them while setting up the bank, he said although raising capital will not a very big challenge for because they serve the unbanked areas of rural India, so there is no competition as such from the formal banking sector. "We already have Rs 1100 crore capital," he said
He further added there are investors like IFC and some others who would provide the funds if further infusion was required.
We at present work in 22 states but focus more on the eastern region including the north-east, which are unbanked areas, said Gosh.
"We have 216 branches, 13,000 employees, around 54 lakh borrowers and the loan outstanding amount currently stands at Rs 6000 crore," added Ghosh.
He did not comment on what the name of the bank would be.
IDFC stock price
On April 02, 2014, IDFC closed at Rs 128.00, up Rs 4.90, or 3.98 percent. The 52-week high of the share was Rs 165.45 and the 52-week low was Rs 76.25.
The company's trailing 12-month (TTM) EPS was at Rs 12.79 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 10.01. The latest book value of the company is Rs 88.76 per share. At current value, the price-to-book value of the company is 1.44.
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