The company has applied to the Reserve Bank of India (RBI) for the licence, which is expected in a couple of months, sources added.
Capital market activities would involve equity and debt fundraising, advisory services, and broking activities.
"We will not do unsecured lending; we are a conservative group," said a source. In November last year, the RBI tightened the regulation around unsecured loans with an increase in risk weightings.
A DSP group spokesperson declined to comment on the issue.
Kothari is chairman of DSP Asset Managers, an asset management company (AMC) with a wide range of active and passive funds managed across the risk-reward spectrum.
This story is from the March 23, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 23, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Byju's ‘Pulling Ahead' With Scalable Sales, Lower Prices
Cash-strapped educational technology (edtech) firm Byju's has reduced the prices of its products.
Restrictions On Bank Of Baroda's BOB World Lifted
The Reserve Bank of India (RBI) lifted the curbs on BoB World - the mobile application (app) of Bank of Baroda with immediate effect, the bank said in a notification to the exchanges.
Why Silent On Ambani, Adani? PM Jibe At Rahul
Cong labels BJP 'tempo of corruption', says Modi nervous after three phases of polls
Home-cooked veg thali 8% costlier in April
Pricier onion, tomato and potato increased the cost of a home-cooked vegetarian thali by 8 per cent in April to ₹27.4 compared to ₹25.4 in the same month last year, said a report on Wednesday.
Depending on rain gods not a solution for forest fires: SC
The Supreme Court on Wednesday said cloud seeding or \"depending on rain gods\" is not the answer to the raging forest fires in Uttarakhand and that authorities will have to take preventive measures to tackle the problem.
Google launches wallet app in India
Tech giant Google on Wednesday launched the Google Wallet app in India, enabling users to store and retrieve digital documents like boarding passes, loyalty cards, movie tickets, and more.
Tailor health insurance riders to your family's medical history
Understand exclusions in each rider to avoid surprises at the time of claim
It's time to 'stock' up for those with risk appetite
Poll jitters, rich valuations to blame for muted May for markets, say analysts
Mutual funds go on ₹900 crore gilt selling trip in May
The stance of Mutual Funds (MF) in the government bond market has shifted in May, with fund houses now engaging in a selling spree, offloading around 900 crore worth of bonds so far.
Demat additions in April built on best ever quarter
Over 3 million accounts added for fifth straight month
