Name the Bank which got RBI approval for holding up to 9.9 percent stake in Bandhan Bank.

2019

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	SBI
B	Yes
C	Axis
D	HDFC

Explanation:

Detailed explanation-1: -RBI Allows HDFC To Hold Only 9.9% In Bandhan Bank.

Detailed explanation-2: -Kolkata, November 1, 2021: The Reserve Bank of India (RBI) has authorised Bandhan Bank as an Agency Bank of the RBI for undertaking Government business.

Detailed explanation-3: -Bandhan Bank and GRUH Finance are merging. GRUH Finance is the housing finance subsidiary of HDFC.

Detailed explanation-4: -Housing finance major HDFC Ltd on Friday divested a little over 3 per cent stake in Bandhan Bank, garnering ₹ 1,522 crore, through an open market transaction. The transaction comes days after HDFC announced a mega-merger with its banking arm HDFC Bank.

Detailed explanation-5: -Bandhan Bank will diversify its asset base by raising its exposure to secured loans to 70 per cent by 2025. Diversification of the asset book was part of future plans, said Chandra Shekhar Ghosh, managing director and chief executive officer of Bandhan Bank. Currently, 39 per cent of the asset book is secured.

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