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RBI clears SBI MF to buy up to 9.99% stake in Bandhan
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Kolkata: Reserve Bank of India has approved a proposal by SBI Mutual Fund to acquire up to 9.99 per cent stake in Bandhan Bank, the lender said in a regulatory filing on Thursday.
The approval allows the fund house to acquire up to 9.99 per cent of the bank’s paid-up share capital or voting rights. The RBI has stipulated that the acquisition must be completed within one year, failing which the approval will lapse.
