Private Bank Ownership: RBI Accepts Recommendations to Raise Cap on Promoter Stake to 26% in Private Banks from 15%

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The Reserve Financial institution of India on Friday mentioned that it has accepted 21 out of the 33 suggestions of the Inside Working Group set as much as evaluation the extant tips on possession and company construction for Indian non-public sector banks.

The important thing suggestions embrace that the cap on promoters’ stake in long term of 15 years shall be raised from the present ranges of 15 per cent to 26 per cent of the paid-up voting fairness share capital of the financial institution.

“This stipulation ought to be uniform for every type of promoters and wouldn’t imply that promoters, who’ve already diluted their holdings to under 26 per cent, is not going to be permitted to boost it to 26 per cent of the paid-up voting fairness share capital of the financial institution,” the RBI mentioned.

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