- The approval has been granted with reference to the application made by SBIFML to RBI, HDFC Bank said in an exchange filing.
- SBIFML has been advised by the central bank to complete the said stake acquisition in the bank within a period of six months i.e. by November 15, 2023.
- Further, SBIFML must ensure that the aggregate holding in the bank remains below 10 per cent of the paid-up share capital or voting rights of the bank at all times.
Question:
Q.1 Which entity has been approved by RBI to acquire up to 9.99% stake in HDFC Bank?a. SBI Funds Management
b. SBI Life Insurance
c. SBI Mutual Fund
d. SBI Capital Markets
