The Reserve Bank of India has given its nod to Equitas Small Finance Bank and its parent company Equitas Holdings Ltd’s merger plan, subject to certain restrictions. The RBI’s no objection comes with strings attached. The merger is being carried out to comply with RBI small finance bank regulations, which require the promoter to cut his or her stake in the subsidiary to 40% within five years of the SFB’s start-up (Small Finance Bank).
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Equitas Holdings’ stock finished at Rs 107.30 per share on the BSE, down 1.69 percent from the previous close. The Equitas SFB stock finished 0.93 percent higher at Rs 54.40 per share.
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