2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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9.9
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8.4
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12
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18.6
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Detailed explanation-1: -RBI Allows HDFC To Hold Only 9.9% In Bandhan Bank.
Detailed explanation-2: -(2) Save as provided in sub-section (1), no banking company shall hold shares in any company, whether as pledgee, mortgagee or absolute owner, of an amount exceeding thirty per cent.
Detailed explanation-3: -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-4: -HDFC received these shares from Bandhan on account of the merger of GRUH Finance with Bandhan and in line with the share exchange ratio mentioned in the scheme of merger. However, post the block deal, HDFC now holds 4.95% of the paid-up share capital of Bandhan.