After the Finance Minister Pranab Mukherjee announced that Reserve Bank of India (RBI) will soon by making relevant changes to the guidelines which will enable more Non-banking financing companies to enter into the banking industry, industrial houses including Tata Sons, Birla Group, Anil Ambani-led Reliance ADAG Group and Bajaj Group, are lining up plans to seek banking licences once the RBI comes up with relevant guidelines.

A host of private sector companies which have been eyeing a banking licence include big names like Aditya Birla Group, Tata Capital, Anil Ambani-led Reliance Capital, Malvinder Singh's Religare group, Muthoot Group, Bajaj
Group and Shriram Finance among others.

While many companies are still tight-lipped about the developments and are waiting for the RBI guidelines to be in picture before they make an announcement some of the others are very bullish on their plans.

Aditya Birla Group Chairman Kumar Mangalam Birla said: "This has come as a pleasant surprise. We would very much want to become a bank."

But one thing's for sure that once RBI will announce the new guidelines, the competition in the Indian banking industry is expected to go up by many folds.