The Reserve Bank of India (RBI) toay raised the cap on promoter’s stake ”in the long run of 15 years” to 26 per cent from the current 15 per cent of the paid-up voting equity share capital of the bank.

The RBI on Friday said that it has accepted 21 out of the 33 recommendations made by the internal working group – which was set up to review the extant guidelines on ownership and corporate structure for private sector banks. The central bank has made some partial modifications where it considered it to be necessary.

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