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Private sector lender RBL Bank is "evaluating" a foray into the broking and asset management space as part of its move to expand capital market activities, a top official said on Wednesday. Making it clear that no decision has been reached on the subject, its managing director and chief executive R Subramaniakumar said the bank, a subsidiary of UAE's Emirates NBD, will see which activities can be done internally, which can be handled at the group level and the separate units which it needs to form. "All the plans are under evaluation," Subramaniakumar told PTI, declining to share a timeline by when plans will be firmed up. Activities like the asset management company or mutual fund, and also advisory businesses like retail broking and institutional broking will have to be outside of the bank through specialized units. He said various plans are "under radar" and it is too premature to comment on any questions like whether the bank flush with capital will choose to acquire an existin
Private lender RBL Bank on Monday said its board approved the mobilisation of up to USD 1 billion from overseas investors through bond issuance. The board approved the establishment of a Euro Medium Term Note Programme (EMTN Programme) in accordance with Regulation S of the US Securities Act, 1933, subject to regulatory, statutory and other approvals, RBL Bank said in a stock exchange filing. The board cleared a proposal to enable issuance of foreign currency bonds/notes/any other debt securities up to USD 1 billion in the future, from time to time, through one or more transactions, subject to the market conditions and regulatory compliances, for raising funds through permissible modes under the EMTN Programme, the bank said. The private lender informed the stock exchanges that the board also gave the go-ahead to delegate certain powers and authorities to the bank's Borrowing Committee to decide and undertake all necessary actions in connection with the EMTN Programme and the issuan