RBI plans easier rules for bank stake acquisition
The Reserve Bank of India (RBI) proposed a one-time approval process for institutional investors, allowing mutual funds, insurance companies, and pension funds to re-acquire stakes in banks without seeking fresh approval each time they increase their holdings up to 10%. This change aims to simplify the approval process while ensuring regulatory oversight remains intact. The draft amendment is part of the RBI's efforts to streamline regulations governing ownership in the banking sector.