SBI MF gets RBI's nod to buy 10% stake in Equitas Small Finance Bank

SBI MF gets RBI's nod to buy 10% stake in Equitas Small Finance Bank

Franklin Templeton Mutual Fund and DSP Mutual Fund have also received RBI's approval to buy 9.99% stake each in the bank

FPJ Web DeskUpdated: Tuesday, January 03, 2023, 05:23 PM IST
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SBI MF gets RBI's nod to buy 10% stake in Equitas Small Finance Bank | Image credit: SBI MF (Representative)

The Reserve Bank of India today gave its approval to SBI Funds Management Ltd to acquire up to 9.99% stake in Equitas Small Finance Bank through the schemes of SBI Mutual Fund, the bank said in an exchange filing.

Franklin Templeton Mutual Fund and DSP Mutual Fund have also received RBI's approval to buy 9.99% stake each in the bank.

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