rbi:  Rbi Allows Sbi Group To Hold Up To 9.9% In Icici | India Business News - Times of India

rbi: Rbi Allows Sbi Group To Hold Up To 9.9% In Icici | India Business News – Times of India

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MUMBAI: The RBI has allowed SBI Mutual Fund and other entities in the SBI group to together hold up to 9.99% stake in ICICI Bank.
The relaxation comes in the wake of revised ownership norms for private banks announced by the RBI last year. Before the new norms came into place, the RBI did not grant approval for individual entities to hold more than 5% in a private bank.
Earlier, Kotak Mahindra Bank and IndusInd Bank had said that they had received permission from the central bank to allow LIC to hold up to 9.99% stake in the respective banks. This approval is valid for one year. The RBI has asked ICICI Bank to ensure that the SBI group’s shareholding remains below 10% at all times.



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