The Edelweiss Group, India’s leading diversified financial services major, is planning to foray in the banking business by setting up a bank in private sector. It has taken this decision considering RBI’s decision to open the banking sector for companies engaged in credit business.
Currently, the company’s 65% of business comes from wholesale and 35% from retail, which the company is trying to reverse. Out of which 20% of its retail business comes from Gujarat alone and 50% of the company’s total business is from credit segment.
