![I-Pru AMC & I-Pru Life Gets RBI Approval to Acquire a 9.95% Stake in RBL, IDFC FIRST, Equitas SFB, Federal and IndusInd Bank I-Pru AMC & I-Pru Life Gets RBI Approval to Acquire a 9.95% Stake in RBL, IDFC FIRST, Equitas SFB, Federal and IndusInd Bank](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGoQPiX5EG4M6Ft_NB7dSDr_OCEwyZKKDHJXuWdc1Ml9CD8gw8WWDFz9asDWKLrj9iK7dASxQlnJaOF_XEZOU0kS77rNrHzHD9V5MFPrNL9_pQZdW5bZ-W8nvAMSHtJuEMifHgEgS-a_b0hyc1lV__w08YyLsA7hoZWWlL59jzpuvHt4Vy2JzQee2J4gZs/w320-h192-rw/Copy%20of%20Copy%20of%20Copy%20of%20Untitled%20(500%20%C3%97%20300%20px)%20(500%20%C3%97%20280%20px)%20(9).png)
- The approval has been granted concerning an application submitted by I-Pru AMC and I-Pru Life to RBI.
- As per the RBI letter, I-Pru AMC and I-Pru Life have been accorded the approval to acquire the aforesaid shareholding in RBL Bank within a period of one year, i.e., by December 26, 2024, and to ensure that the aggregate holding in RBL Bank does not exceed 9.95% of the paid-up share capital or voting rights of the bank at all times.
- Further, if the aggregate holding falls below 5%, prior approval of the RBI will be required to increase it to 5% or more of the paid-up share capital or voting rights of the bank.
- As of December 22, 2023, the ICICI group (including ICICI Prudential Life Insurance Co. Ltd and ICICI Prudential Asset Management Company Limited) held 2.08% of the equity share capital of RBL Bank.
Question:
Q.1 What is the maximum percentage of stake that I-Pru AMC and I-Pru Life can acquire in RBL Bank as per the RBI approval?a. 5%
b. 7.5%
c. 9.95%
d. 10%