Explore Business Standard
Explore Business Standard
Emirates NBD to acquire 60% stake in RBL Bank UAE-based Emirates NBD will invest around $3 billion for up to a 60% stake in RBL Bank, the largest cross-border investment in an Indian private lender. The deal is expected to help RBL expand into corporate lending, wealth management, and retail loans. Credit growth picks up as banks see signs of economic revival Meanwhile, India’s top private banks are seeing early signs of economic revival, supported by government measures and easier monetary policy. Bank credit grew 11.4% year-on-year in the fortnight ended October 3, aided by festive demand. Private banks lead in passing on RBI rate cuts Following the RBI’s 100-basis-point rate cuts this year, lending rates on fresh and outstanding rupee loans dropped by 58 and 55 basis points, respectively, with private banks leading the transmission. RBI may scrap mandatory approval for banks to form subsidiaries Banks may soon set up subsidiaries without prior RBI approval, except in insuran
