Centurion To Sew Up Deal With Sabre Today

RBI gives green signal; BankMuscat to merge its Indian operations

The board of Centurion Bank is meeting tomorrow to finalise the deal with former Standard Chartered Bank CEO Rana Talwar-promoted Sabre Capital.

Under the agreement, Sabre Capital and BankMuscat, along with a few other investors, is expected to pick up controlling stake in Centurion Bank.

BankMuscat, which operates a single branch in Bangalore, will merge its operations in India under Centurion.

Centurion is also likely to reduce a part of its capital as part of the restructuring process.

Sources said the recast package has got the Reserve Bank of India