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ā¢ FIH Mauritius Investments Ltd. has received approval from the Reserve Bank of India to retain a 26% stake in CSB Bank, instead of the previously advised 15%.
ā¢ The RBI earlier required promoters of banks to reduce their shareholding to 15%, but a legal battle with Uday Kotak led to a rule change allowing promoters to retain up to 26%.
ā¢ IndusInd Bank's promoters have also benefited from this rule change, as they were given regulatory approval to raise their stake to 26% earlier this year.