RBI Greenlights Tata AMC's Expansion: Approves Increased Stake in DCB Bank to 7.5%

6 Jul 2023 , 01:21 PM

The Reserve Bank of India (RBI) has granted approval to Tata Asset Management Company (AMC) to increase its stake in DCB Bank to 7.5%. The approval, valid for one year from the date of the RBI letter, was disclosed by DCB Bank in a regulatory filing to the stock exchanges on July 5.

According to the filing, ‘The Bank has received an intimation from RBI on July 5, 2023, that it has granted its approval to Tata Asset Management Private Limited (TAMPL) to acquire an aggregate holding of up to 7.5% of the paid-up equity capital of the Bank through the schemes of Tata Mutual Fund.’

This approval allows Tata AMC to enhance its investment in DCB Bank, demonstrating the growing confidence of the regulatory authorities in the bank’s operations and performance.

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