Tourism Fin Corp to seek banking licence

The board of Tourism Finance Corporation of India Ltd (TFCI),which caters to the financing needs of the tourism industry,has approved a proposal to seek licence from the Reserve Bank of India for setting up a bank.

“TFCI,in terms of the approval by the board of directors,is submitting application with RBI for banking licence,” the company said in a filing on the BSE. The RBI has set July 1 as deadline for applying for a banking licence.