The Reserve Bank of India has simplified bank shareholding rules, allowing eligible mutual funds, insurers, and pension funds to obtain one-time approval for subsequent acquisitions of up to 10% in a bank. The new framework, effective immediately, introduces a 'qualifying person' category and retains reporting requirements. The move aims to streamline stake purchases and reduce regulatory hurdles.
RBI Eases Bank Shareholding Rules for MFs, Insurers, Pension Funds
Source: Moneycontrol