New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    RBI has accorded approval to ICICI AMC to acquire 9 . 95

    per cent stake in which of the following bank / banks?
    A HDFC Bank Correct Answer Incorrect Answer
    B RBL Bank Correct Answer Incorrect Answer
    C Equitas Small Finance Bank Correct Answer Incorrect Answer
    D ICICI Bank Correct Answer Incorrect Answer
    E ICICI Bank and Equitas Small Finance Bank both Correct Answer Incorrect Answer

    Solution

    Explanation : The Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd ( ICICI AMC ) for acquiring up to 9 . 95 per cent stake in the bank . The approval granted by the Reserve Bank of India ( RBI ) is subject to the compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI's Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023, it said . Meanwhile, RBI also accorded approval to ICICI AMC to acquire 9 . 95 per cent stake in RBL Bank and Equitas Small Finance Bank .

    Practice Next

    Relevant for Exams: