The promoter of India’s CSB Bank has received permission from the Reserve Bank of India to keep a 26% stake in the lender, rather than the 15% suggested by the central bank before, the lender said on Thursday.According to BSE statistics, FIH Mauritius Investments Ltd (FIHM), which now owns 49.72% of the Thrissur, Kerala-based bank, must reduce its position within 15 years after investment completion.The RBI previously mandated bank founders to decrease their shareholding to 15% in order to guarantee that these instructions are complied with.However, after a court battle with Uday Kotak, the promoter of Kotak Mahindra Bank, the regulator allowed promoters…
Read More…
CSB Bank promoter gets RBI approval to retain 26% stake
