- As a result, the Hinduja Group will contribute over INR 10,000 crore to IndusInd Bank, making it the first bank with a promoter who has increased its ownership to 26%.
- The RBI revised its private bank ownership guidelines in November 2021 to allow promoter ownership of up to 26%, up from 15%.
- The RBI then released operational guidelines in January 2023 that allow promoters to hold up to 26% of a bank's paid-up share capital or voting rights after 15 years of operation, based on recommendations from the Internal Working Group (IWG) in 2021.
- As of December 2022, Hinduja Group, through IIHL, owns 16.51% of IndusInd Bank's stake and 15.16% of its voting shares, while IndusInd International Holdings held 12.58% and IndusInd Ltd. held 3.92%.
- MD & CEO – Sumant Kathpalia
- Established – 1994
- Headquarters – Mumbai, Maharashtra
Question:
Q.1 What was the outcome of the Reserve Bank of India's decision regarding the Hinduja Group's ownership in IndusInd Bank Ltd.?
a. The Hinduja Group was denied the ability to increase its ownership in IndusInd Bank.
b. The Hinduja Group was given the green light to acquire a larger stake in IndusInd Bank.
c. The Hinduja Group's ownership in IndusInd Bank remained unchanged.
d. The Hinduja Group's ownership in IndusInd Bank was reduced.
a. The Hinduja Group was denied the ability to increase its ownership in IndusInd Bank.
b. The Hinduja Group was given the green light to acquire a larger stake in IndusInd Bank.
c. The Hinduja Group's ownership in IndusInd Bank remained unchanged.
d. The Hinduja Group's ownership in IndusInd Bank was reduced.
