RBI norms prohibit corporates to participate in IBDI Bank sale

The RBI guidelines have barred corporates from being even a minority shareholder in consortium wanting to bid for 60 per cent stake in IDBI Bank's strategic sale process. ​​The current RBI norms bar industrial houses from becoming bank promoters, an official said. As per the RBI guidelines, industrial houses can hold a maximum of 10 per cent stake in private sector banks, but they cannot be a promoter.

from Banking/Finance-Industry-Economic Times https://ift.tt/bl2IqWK