Anil Ambani hopeful of getting bank licencehttps://indianexpress.com/article/news-archive/web/anil-ambani-hopeful-of-getting-bank-licence/

Anil Ambani hopeful of getting bank licence

ADAG chairman Anil Ambani on Tuesday exuded confidence in the long-term growth potential of the proposed private bank.

ADAG chairman Anil Ambani on Tuesday exuded confidence in the long-term growth potential of the proposed private bank as a “profitable institution in itself”. “We are in constant touch with the regulator (RBI) to ensure that all queries are answered (with regard to our application for a banking licence). We are hopeful that we will be among the first few recipients of the banking license,” Ambani said while addressing shareholders of Reliance Capital,the group’s financial services arm.

“As and when we get the licence and when the three-year period lapses,at that stage,as per the regulations there will be an IPO and we will list Reliance Bank,” he said.