The Reserve Bank of India (RBI) has accorded its approval to Quant Money Managers to acquire aggregate holding of up to 9.98% of the paid-up share capital or voting rights in RBL Bank through various schemes of Quant Mutual Fund. The approval has been granted with reference to the application made by Quant Money Managers to RBI. Quant Mutual Fund through its various scheme held 4.68% of the equity share capital of the Bank as of May 10, 2024.
The aforesaid approval granted by RBI is subject to the conditions mentioned therein including compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended from time to time), provisions of the Foreign Exchange Management Act, 1999, regulations issued by Securities and Exchange Board of India, and any other statutes, regulations and guidelines, as applicable.
As per the RBI Letter, Quant Money Managers has been accorded the approval to acquire through various schemes of quant Mutual Fund, the aforesaid major shareholding in the Bank within a period of one year i.e. by May 12, 2025 and to ensure that the aggregate holding in the Bank does not exceed 9.98% of the paid-up share capital or voting rights of the Bank at all times. Further in the event, if the aggregate holding falls below 5%, prior approval of RBI will be required to increase it to 5% or more of the paid-up share capital or voting rights of the Bank.
RBL Bank operates as a scheduled commercial bank. The bank offers its services under the various business verticals including corporate and institutional banking, commercial banking, retail banking, agri and development banking and financial markets.
| Company Name | CMP |
|---|---|
| HDFC Bank | 1772.05 |
| ICICI Bank | 1285.70 |
| Axis Bank | 1072.10 |
| Kotak Mahindra Bank | 1743.55 |
| Indusind Bank | 930.00 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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