IndusInd Bank gets RBI nod for stock broking arm
The bank has also been permitted to infuse equity capital into the new subsidiary, subject to additional conditions mentioned in the RBI letter
IndusInd Bank has received approval from the Reserve Bank of India (RBI) to establish a wholly owned subsidiary for stock broking operations, the bank announced on Friday. The bank is also permitted to inject equity capital into the new subsidiary, provided it complies with additional conditions outlined in the RBI's letter, according to the release. The bank's shares on the BSE ended the day 1.9 percent higher at ₹1,025.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
