RBI must seriously consider deposit licences for NBFCs: Ajay Piramal

"By the end of September, we will have approximately Rs 6000 crore of cash in the balancesheet, which is much more than the LCR requirements"

Piramal Enterprises (PEL) recently announced a buyback of 14 million shares worth Rs 1,750 crore. The buyback price is Rs 1,250 per share, representing a 16 per cent premium to the market price on the date of the announcement. AJAY PIRAMAL, chairman of Piramal Group, discusses a range of topics, from the rationale behind the buyback to the group’s banking aspirations, in an exclusive interview with Manojit Saha for the Business Standard Banking Show. Edited excerpts:

What was the reason for the share buyback?
 

We had invested in Shriram Group, and a portion of that investment was monetised at the