According to the term sheet issued by the banker IIFL, FIH Mauritius Investments, an entity belonging to Fairfax Group is expected to sell 1.68 crore shares in the Kerala-based bank at a floor price of ₹352.4 per share. The floor price represents a 1% discount to Wednesday’s closing price of ₹355.95.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.