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RBI allows SBI Funds Management to buy 9.99% stake in HDFC Bank

RBI allows SBI Funds Management to buy 9.99% stake in HDFC Bank

May 18, 2023, at 03:06 am

Mumbai: The Reserve Bank of India (RBI) has granted permission to SBI Funds Management (SBIMFL) to acquire a stake of up to 9.99 percent in terms of paid-up share capital or voting rights of HDFC Bank, the bank said in an exchange filing on Wednesday.