SBI Funds Management Private Limited gets RBI nod to acquire shares up to 10 % of the paid up capital of CSB Bank Ltd

Reserve Bank of India, vide letter dated July 22, 2020, has conveyed its approval to 'SBI Funds Management Private Limited' to acquire shares up to 10 % of the paid up capital of CSB Bank Ltd through various schemes of 'SBI Mutual Fund.' As per the terms of Reserve Bank of India letter, this approval shall stand valid for one year period from the date of its letter i.e. till July 21, 2021.

SBI Funds Management Private Limited through various schemes of SBI Mutual Fund is currently holding 4.734% in the paid up capital of the Bank.

Shares of CSB Bank LTD. was last trading in BSE at Rs. 193.20 as compared to the previous close of Rs. 184.75. The total number of shares traded during the day was 47708 and the deliverable quantity was 9723.

The stock hit an intraday high of Rs. 198 and intraday low of Rs. 179.30.

Source : Equity Bulls

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