More banks may get into AMC biz after RBI nod to IndusInd Bank

August 21, 2024

IndusInd Bank received approval from the Reserve Bank of India to set up a wholly-owned asset management business, a first for a mainstream lender. This move could signal more opportunities for other banks looking to diversify into para-banking sectors. The RBI had earlier allowed HDFC and ICICI Bank to increase stakes in insurance subsidiaries.

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