RBI Approves Quant MF to Raise Stake in RBL Bank

The Reserve Bank of India (RBI) has granted approval to Quant Mutual Fund (MF) to increase its stake in RBL Bank to 9.98% by May 12, 2025. This approval, subject to conditions and provisions under the Banking Regulation Act, 1949, was disclosed in a regulatory filing.

Approval Details

Quant MF, through its various schemes, currently holds 4.68% equity share capital in RBL Bank. The RBI’s approval allows Quant Money Managers Ltd to acquire an “aggregate holding” of up to 9.98% of the paid-up share capital or voting rights in RBL Bank.

Conditions and Timeline

The approval, granted on Monday, mandates adherence to certain conditions and provisions under the Banking Regulation Act, 1949. Quant MF is required to increase its shareholding in RBL Bank to the approved limit by May 12, 2025.

Market Status

As of the latest update, RBL Bank stock was trading at Rs 246.60, reflecting a marginal increase of 0.20% on the Bombay Stock Exchange (BSE).