SKS Micro, Dewan Housing gain on hopes of small bank licences

Shares of SKS Microfinance gained 4.85 per cent, while Dewan Housing Finance added 4.12 per cent in trade on Friday.

RBI will issue small bank licences in the next few days. "There is another category of differentiated bank that is small finance bank which we expect to announce again in-principle approval in the next few days," Mundra said during a panel discussion at an event organised by The Economist.

RBI had received 72 applications for small finance bank licences.

Small finance banks are aimed at lending to "unserved and underserved sections including small business units", the Reserve Bank of India said.

The small finance banks can provide basic banking services like accepting deposits and lending to the unbanked sections such as small farmers, micro business enterprises, micro and small industries and unorganised sector entities.

(With inputs from PTI)