The Reserve Bank of India (RBI) has given its approval to HDFC Asset Management Company (HDFC AMC) for acquiring aggregate holding of up to 9.5% of the paid-up share capital or voting rights-in City Union Bank (the Bank).
The aforesaid approval is given by RBI, subsequent to the consent given by the Board of the Bank to RBI for such acquisition, in line with RBI Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023.
City Union Bank offers a suite of products across deposits, loans, investment solutions, payments and cards.
