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The Reserve Bank of India (RBI) has allowed HDFC Asset Management Company (AMC) to acquire up to 9.5 percent stake each in the DCB Bank and Karur Vysya Bank.
RBI’s approval is valid for one year from the approval date, both the lender said in an exchange filing. The central bank also told HDFC AMC that its shareholding in both the private banks should not exceed 9.5 percent.
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Earlier in June, RBI allowed Tata AMC to buy 7.5 percent stake in the DCB Bank.
So far…
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