Rakesh Jhunjhunwala, R K Damani approach RBI to acquire 10% in RBL Bank

Ace investors Rakesh Jhunjhunwala and D-Mart’s founder RK Damani have approached the Reserve Bank of India (RBI) to buy a 10 per cent stake in RBL Bank, according to a report by CNBC TV 18. According to the report, RBI is looking at the request. 

The move by ace investors comes a day after the appointment of RBI chief general manager Yogesh Dayal as additional director on RBL’s board, and its managing director Vishwavir Ahuja proceeded on leave. 

Neither Jhunjhunwala nor Damani have made any statement regarding their request to RBI. On Friday, RBL Bank’s stock ended the session at Rs 172.50, a 3.06 per cent decline. The lender at present has a market capitalisation of Rs 10,340 crore.