|
|
Article: INDIA'S RBI CLEARS HSBC'S ACQUISITION OF 14.71% IN UTI BANK.
- Article from:
- AsiaPulse News
- Article date:
- May 28, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MUMBAI, May 28 Asia Pulse - The Reserve Bank of India has cleared Hongkong and Shanghai Banking Corporation's acquisition of 14.71 per cent stake in UTI Bank (BSE:UTBK) from CDC.
"We have received the letter from RBI approving the acquisition of 14.71 per cent stake in UTI Bank," an HSBC spokesperson said here Thursday.
HSBC Asia Pacific Holdings (UK), a wholly-owned subsidiary of HSBC, in December last entered into an agreement ...