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A man holds an umbrella to shield himself from the rain on a beach in Mumbai June 13, 2013. REUTERS/Danish Siddiqui

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Brokers trade on their computer terminals at a stock brokerage firm in Mumbai July 23, 2008. REUTERS/Punit Paranjpe/Files

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai July 23, 2008.

Credit: Reuters/Punit Paranjpe/Files

MUMBAI | Mon Feb 25, 2013 11:03am IST

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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