The Reserve Bank of India (RBI) has granted approval to SBI Mutual Fund (SBI MF) for acquiring up to 9.99% of the paid-up share capital or voting rights of Karur Vysya Bank Ltd (KVB). This move signals a potential strategic a potential strategic investment by SBI MF in the private sector leader. However, there are conditions attached to this approval, including a time constraint and limitations on the aggregate holding. Conditions and Timelines The approval comes with certain conditions attached. According to a regulatory filing by the private sector lender, SBI MF must complete the acquisition of major shareholding within one year from the date of the RBI’s letter. Failure to do so…
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Source: https://currentaffairs.adda247.com/sbi-mf-gets-rbi-nod-to-buy-9-99-stake-in-karur-vysya-bank/amp/