29 Sept 2023 , 02:39 PM
HDFC Asset Management Company has received approval from the Reserve Bank of India (RBI) to acquire additional holdings of up to 9.5% in Karur Vysya Bank and DCB Bank.
Karur Vysya Bank confirmed the RBI’s approval, specifying that HDFC AMC must ensure its aggregate holding in the bank does not exceed 9.5% of the paid-up share capital. Any reduction of shareholding below 5% will require prior approval from RBI.
DCB Bank also received RBI’s approval for HDFC AMC to acquire up to 9.5% of its paid-up share capital or voting rights. HDFC AMC must complete this major shareholding acquisition within one year from the date of approval; otherwise, the RBI’s approval will be canceled.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.