SKS Microfinance shares fell as much as 15% today as it failed to bag the Small Bank license from the Reserve Bank of India. The Reserve Bank of India on Wednesday granted small finance bank licenses to 10 entities, out of which eight are microfinance institutions. SKS is the only large microfinance player, which failed to get a small bank license. SKS Microfinance had also failed to get a payments bank license, which RBI granted in August.
Tata Steel, as part of its portfolio restructuring has sold 3,85,20,801 shares of Tata Motors Limited to institutional investors over the stock exchange for a total consideration of Rs. 1,250.69 crore.