Latest News | SBI Mutual Fund Raises Stake in CSB Bank to over 5 Pc
Get latest articles and stories on Latest News at LatestLY. Private sector lender CSB Bank on Tuesday said SBI Mutual Fund has increased its stake in the bank to over 5 per cent.
New Delhi, Jan 5 (PTI) Private sector lender CSB Bank on Tuesday said SBI Mutual Fund has increased its stake in the bank to over 5 per cent.
According to a regulatory filing by CSB Bank, the stake of the fund house rose from 4.96 per cent to 5.01 per cent following the acquisition of an additional 86,993 shares.
The acquisition was through open market purchase on January 1, 2021.
Last year, the Reserve Bank of India (RBI) gave its nod to SBI Funds Management to acquire up to 10 per cent stake in the Kerala-based lender.
The RBI approval will stand valid for one year till July 21, 2021. The investment will be through various schemes of SBI Mutual Fund.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)