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RBI Approves Quant MF to Raise Stake in RBL Bank: Quant Mutual Fund has received approval from the Reserve Bank of India (RBI) to increase its stake in RBL Bank to 9.98% by 12th May 2025. This means that the mutual fund will be allowed to own almost 10% of RBL Bank’s shares, subject to certain conditions and provisions outlined in the Banking Regulation Act, of 1949. The approval, which was disclosed in a regulatory filing, signifies Quant Mutual Fund’s intention to deepen its investment in RBL Bank over the coming years.
RBI Approves Quant MF to Raise Stake in RBL Bank
The approval granted by the RBI allows Quant Mutual Fund to gradually increase its stake in RBL Bank, thereby strengthening its position as a significant shareholder in the bank. However, this increase in stake is contingent upon meeting specific conditions and provisions mandated by the Banking Regulation Act, of 1949. By obtaining this approval, Quant Mutual Fund aims to capitalize on the growth potential of RBL Bank and further align its investment strategy with the long-term objectives of the bank.
Approval Details for Quant Mutual Fund’s Increased Stake in RBL Bank
Quant Mutual Fund currently holds 4.68% of RBL Bank’s equity share capital through its different schemes. With the RBI’s approval, Quant Money Managers Ltd can now acquire a total holding of up to 9.98% of the paid-up share capital or voting rights in RBL Bank.
Conditions and Timeline for Increased Stake in RBL Bank by Quant Mutual Fund
The approval, given on Monday, requires Quant Mutual Fund to follow specific conditions and rules outlined in the Banking Regulation Act, of 1949. Quant Mutual Fund must increase its shareholding in RBL Bank to the approved limit by 12th May 2025.
Market Status
According to the latest update, RBL Bank’s stock was trading at Rs 246.60, showing a slight increase of 0.20% on the Bombay Stock Exchange (BSE).
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