Challenges before nbfc or financial institutions

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pragya (Querist)
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14 January 2014 If Banking license was issued By RBI in Jan 14 ,than what are the major Challenges before Bank or Non Banking Financial Institutions for Conversion into Bank.

Please do provide some Major Inputs for the same.

Thanks In Advance

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 January 2014 Dear Pragya,

1. Licences are not being issued before the new government takes charge. So have to wait atleast till June 14.

2. challenges will vary from depending on each entity. For eg ABFL may find it easier to convert in comparison to Bandhan..

3. Also, for anyone applying for a new license without being a NBFC etc, will take almost 1-2 years to just set up the whole thing...

4. For NBFC the biggest challenge will be to change the way they do business as banks are far more regulated and have much more interaction with retail clients..

You can further read: https://businesstoday.intoday.in/story/new-bank-licences-rbi/1/196611.html

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