Birla to Vie With Billionaire Ambani for Setting Up Indian Banks

Birla to Vie With Billionaire Ambani for Setting Up Indian Banks

Dhiraj Singh/Bloomberg

Pedestrians walks past the Reserve Bank of India (RBI) headquarters, rear, and the State Central Library building in Mumbai. New banks will need to maintain a 13 percent capital adequacy ratio for three years, compared with the 10 percent mandated by the regulator when it set guidelines for new lenders in 2001.