SBI Mutual Fund Gets RBI Nod for Bandhan Bank Stake Acquisition
SBI Mutual Fund has obtained RBI approval to acquire up to 9.99% of Bandhan Bank's shares. The decision, effective till February 2026, follows compliance with Banking Regulation Act and other guidelines. If not executed within a year, approval will be revoked.
- Country:
- India
SBI Mutual Fund has successfully received clearance from the Reserve Bank of India to acquire a significant stake in Bandhan Bank, as revealed in a recent regulatory filing.
The approval allows the mutual fund to hold up to 9.99% of the bank's paid-up share capital or voting rights, subject to compliance with relevant regulations including the Banking Regulation Act, 1949 and other directives.
The exchange filing noted that this approval is time-bound, requiring execution within one year or it would be rescinded, ensuring that regulatory conditions are strictly adhered to by all parties involved.
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