RBI nod for HDFC AMC to acquire KVB’s 9.5% of the paid-up share capital or voting rights

This story is from September 21, 2023RBI has granted permission to HDFC Asset Management Company Ltd. to acquire a cumulative stake of up to 9.5% in the paid-up share … Read More RBI has granted permission to HDFC Asset Management Company Ltd. to acquire a cumulative stake of up to 9.5% in the paid-up share … Continue reading “RBI nod for HDFC AMC to acquire KVB’s 9.5% of the paid-up share capital or voting rights”

RBI permits ICICI Pru Mutual Fund to acquire 9.95 per cent stake in Karur Vysya Bank

Karur Vysya Bank on Friday said the Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd (ICICI AMC) for acquiring aggregate holding of up to 9.95 per cent of the paid-up share capital or voting rights of The Karur Vysya Bank Ltd. The approval has been granted with reference to … Continue reading “RBI permits ICICI Pru Mutual Fund to acquire 9.95 per cent stake in Karur Vysya Bank”

TMB shareholder appeals Madras HC to direct RBI to give nod for new MD appointment

KV Mugundan, a shareholder of Tamilnad Mercantile Bank (TMB), has filed an appeal to the Madras High Court to direct the Reserve Bank of India (RBI) to immediately clear any one of the names from the panel for appointment of MD & CEO of TMB.S Krishnan resigned as Managing Director and Chief Executive Officer (MD … Continue reading “TMB shareholder appeals Madras HC to direct RBI to give nod for new MD appointment”

HDFC Bank: RBI denies Bank’s plea to classify old HDFC Bonds as infrastructure debt; HDFC share price in green

The Reserve Bank of India (RBI) has rejected a request from HDFC Bank to allow it to classify securities worth over ₹1 lakh crore issued by the erstwhile HDFC Ltd as infrastructure bonds, according to a report by Economic Times. The infra classification would have granted regulatory relaxations to the country’s largest private sector bank. … Continue reading “HDFC Bank: RBI denies Bank’s plea to classify old HDFC Bonds as infrastructure debt; HDFC share price in green”

karur vysya stake sale: HDFC AMC gets RBI nod to acquire up to 9.5% stake in Karur Vysya Bank

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 … Continue reading “karur vysya stake sale: HDFC AMC gets RBI nod to acquire up to 9.5% stake in Karur Vysya Bank”

RBI Greenlights Indian Bank’s Wholly-Owned Subsidiary for Enhanced Operational Efficiency

The Reserve Bank of India (RBI) has granted approval to Indian Bank, a leading public sector bank, to establish a wholly-owned subsidiary, focusing on operational support services. The strategic move aims to enhance operational efficiency, allowing Indian Bank to concentrate more effectively on core banking functions. The subsidiary’s primary objective is to streamline processes and … Continue reading “RBI Greenlights Indian Bank’s Wholly-Owned Subsidiary for Enhanced Operational Efficiency”

RBI Takes Regulatory Action Against IIFL Finance Ltd., Prohibits Gold Loan Sanctions and Sales

There has been a 3.94% decrease in the stocks of IIFL Finance Limited in the National Stock Exchange.Following its recent regulatory measures against Paytm Payments Bank Limited ( PPBL ), the Reserve Bank of India ( RBI ) has taken further action, this time targeting India Infoline Finance Limited (IIFL Finance). The apex bank has … Continue reading “RBI Takes Regulatory Action Against IIFL Finance Ltd., Prohibits Gold Loan Sanctions and Sales”

RBI allows Indian bank branches in GIFT-IFSC to trade on international bullion exchange ,Banking News, Business News

The Reserve Bank of India (RBI) issued a circular on Friday allowing Indian bank branches in GIFT-IFSC to act as Trading Members or Trading and Clearing Members of the International Bullion Exchange IFSC Ltd (IIBX). COMMERCIAL BREAKSCROLL TO CONTINUE READINGThe RBI stated that Indian banks authorised to import gold or silver will serve as Special … Continue reading “RBI allows Indian bank branches in GIFT-IFSC to trade on international bullion exchange ,Banking News, Business News”

Other Payment Apps Looking to Replace Paytm After RBI Bans Paytm Payments Bank Operations

Paytm News: The RBI recently banned any kind of credit transaction on Paytm Payments Bank after 29th January, which further got extended to 15th March. After this decision, many payment apps have come into action to replace the leading fintech company amidst the ongoing crisis. Paytm has a large share in the QR, Soundbox, and … Continue reading “Other Payment Apps Looking to Replace Paytm After RBI Bans Paytm Payments Bank Operations”

SBI MF Gets RBI Nod to Buy 9.99% Stake in Karur Vysya Bank

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 … Continue reading “SBI MF Gets RBI Nod to Buy 9.99% Stake in Karur Vysya Bank”