Equitas Small Finance Bank Ltd.

Reserve Bank of India (RBI) has granted its approval to SBI Funds Management (SBIFML) to acquire up to 9.99% of the paid-up equity capital of Equitas Small Finance Bank through the schemes of SBI Mutual Fund (SBIMF).

The aforesaid approval by RBI is subject to compliance with the relevant provisions of Banking Regulation Act,1949, Master Direction on Prior Approval for Acquisition of shares or voting rights in Private Sector Banks dated November 19, 2015 and Master Direction on Ownership in Private sector Banks dated May 12, 2016, issued by RBI, provisions of the regulations issued by Securities and Exchange Board of India, provisions of the Foreign Exchange Management Act, 1999 and any other guidelines, regulations and statutes as applicable and is valid for a period of one year i.e. up to January 02, 2024.

Equitas Small Finance Bank offers personalised services and helps finds the right product to suit individual banking requirements for their savings.