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Catholic Syrian seeks RBI nod for stake sale

Last Updated : Jan 20 2013 | 7:08 PM IST

BS Reporter / Mumbai January 29, 2007

Kerala-based Catholic Syrian Bank (CSB) is in the process of seeking the permission of the Reserve Bank of India (RBI) to sell 15% stake in the bank to AIF Capital Development, a Mauritius-based private equity firm.

CSB, which had a loan portfolio of Rs 2,694 crore as on March 31, 2006, hopes to get clearance from the RBI to have a single shareholder owning more than 10% as has been allowed in Yes Bank and Centurion Bank of Punjab.

RBI