Federal Financial institution, on Thursday, stated the Reserve Financial institution of India has accorded approval to ICICI Prudential Asset Administration Firm Ltd (ICICI AMC) for buying as much as 9.95 per cent stake within the financial institution.
RBI accorded the approval topic to circumstances on Thursday, Federal Financial institution stated in a regulatory submitting.
The approval granted by the Reserve Financial institution of India (RBI) is topic to the compliance with the related provisions of the Banking Regulation Act, 1949, RBI’s Grasp Route and Tips on Acquisition and Holding of Shares or Voting Rights in Banking Corporations dated January 16, 2023, it stated.
In the meantime, RBI additionally accorded approval to ICICI AMC to amass 9.95 per cent stake in RBL Financial institution and Equitas Small Finance Financial institution.
