RBL stake buy to help understand banking more, says M&M MD
Financial Express Mumbai|August 05, 2023
MAHINDRA AND MAHINDRA (M&M) managing director Anish Shah said on Friday that the investment in RBL Bank is aimed at enhancing the automaker's understanding of the banking sector.
AJAY RAMANATHAN
RBL stake buy to help understand banking more, says M&M MD

"We have a business in the financial services sector and this investment is for us to understand banking in more detail because we have done this with a 7-10-year view," Shah said, adding that company has no intention of expanding its presence in the banking sector.

In the recent post April-June conference call, the company said that it is not looking to increase its stake in RBL Bank unless there is a "compelling reason to do so". There are no plans to invest in any other banks.

These comments come days after M&M acquired a 3.5% stake in the bank for ₹417 crore.

هذه القصة مأخوذة من طبعة August 05, 2023 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة August 05, 2023 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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