RBI Grants Approval to SBI Mutual Fund to Acquire 9.99% Stake in RBL Bank

RBL Bank Limited has informed the exchange about an intimation under Regulation 30 of SEBI Listing Regulations. The Reserve Bank of India (RBI) has granted its approval to SBI Mutual Fund to acquire an 'aggregate holding' of up to 9.99% of the paid-up share capital or voting rights in RBL Bank Limited. This approval is subject to certain conditions, including compliance with the relevant provisions of the Banking Regulation Act, 1949, Reserve Bank of India (Commercial Banks — Acquisition and Holding of Shares or Voting Rights) Directions, 2025, provisions of the Foreign Exchange Management Act, 1999, regulations issued by Securities and Exchange Board of India, and any other statutes, regulations and guidelines, as applicable. SBI Mutual Fund is required to acquire the shares within a period of one year from the date of the RBI Letter and ensure that the aggregate holding in the Bank does not exceed 9.99% at all times. If the aggregate holding falls below 5%, prior approval of RBI will be required to increase it to 5% or more.