The Reserve Bank of India (RBI) has given its nod to HDFC Asset Management Company (AMC) to acquire up to 9.5% stake in Karur Vysya Bank, the bank said on Thursday in a filing to the exchanges. However, the RBI approval is with a caveat that HDFC shall not exceed its holding in the bank beyond the 9.5% limit, the filing said.The release further revealed that if HDFC AMC’s aggregate holding falls below 5%, prior approval of RBI will be required to increase it to 5% or more of the paid-up share capital or voting rights of the bank.The aforesaid approval granted by RBI is subject to compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and…
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