NBFC shares gain on RBI guidelines
MUMBAI (Reuters) - India's non-banking financial shares gain on Monday after the RBI issued guidelines allowing any business sector to apply for banking licenses.
M&M Financial shares were up 6.4 percent at 10:09 a.m.
IDFC Ltd (IDFC.NS), a lender and consultant for infrastructure projects, was up 1.8 percent.
(Reporting by Rafael Nam; Editing by Anand Basu)
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India's economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest rates. Full Article