Sahara told the court it was working on new deals to raise funds.
The SBI auction will be the biggest nationwide online sale.
MUDRA bank will help microfinancing firms to lend more.
They need to have 15 years of mainstream banking experience
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
The Supreme Court has set conditions on the fund raising, however, and on Friday asked Sahara to obtain necessary approvals from the Indian central bank and other authorities to comply with foreign exchange rules.
Trouble at a single bank among the top five most connected lenders could wipe out nearly 50% of Tier I capital
Sahara, which already has a more than $900 million loan from Bank of China on the three hotels, including the Plaza in New York, had sought the court's permission to take over the loan and refinance it from another creditor and raise a fresh loan of $650 million.
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Large state-run entities and business houses will not be allowed to set up small finance banks, which will have to comply with statutory reserve requirements.
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Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
ICICI Venture denied the allegations, noting it had extended the lifespan of the Dynamic India Fund III by three years
A court ruled in favour of Vodafone on Friday in a long-running dispute with the Indian taxman, a boost for the British telecom group whose tax battles have been seen as emblematic of the troubles facing foreign investors in India.
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The tycoon had been allowed to use an office, phone, internet connection and three secretaries.
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
Roy and his associates were jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog over the company's failure to repay billions of dollars to investors who were sold outlawed bonds.
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The award of more than 200 coal blocks to steel, cement and power companies has been at the centre of the so-called "Coalgate" scandal.
The Reserve Bank of India (RBI) plans to impose stricter limits on how much a bank can lend to a single corporate group, a move aimed at curbing risk in the banking sector at a time when bad loans are on the rise.
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