- DIPAM approved PNB to sell the entire or a portion of its stake in UTI AMC.
- PNB is set to divest 15.22% (entire stake) in UTI AMC in single or multiple tranches.
- PNB will receive around INR 1,329 Cr by selling its entire stake in UTI AMC.
- PNB is a financial services company established in 1894 with its headquarters in New Delhi. The current MD & CEO of the bank is Atul Kumar Goel.
- UTI AMC is a mutual fund company that was established in 2002 with its headquarters in Mumbai. The current Director of the company is Narasimhan Seshadri.
Question:
Q.1 Which of the following bank got approval from DIPAM to dilute its stake in UTI Asset Management Company (AMC) Ltd?a. BOB
b. BOI
c. UBI
d. PNB
