RBI nod for HDFC AMC to acquire KVB’s 9.5% of the paid-up share capital or voting rights

RBI has granted permission to HDFC Asset Management Company Ltd. to acquire a cumulative stake of up to 9.5% in the paid-up share capital or voting rights of Karur Vysa Bank. KVB made this announcement on Thursday, stating that the approval was based on an application submitted by HDFC AMC to the RBI.