In recent years, the Indian government has permitted several foreign entities to invest in private sector banks in India. Some of the important investments are as follows:
- Japan’s MUFG will buy 20 per cent stake in Shriram Finance for $4.4 billion.
- Emirates NBD Bank’s $3 billion investment for a 60 per cent stake in Indian private lender RBL Bank in November.
- Sumitomo Mitsui Banking Corporation bought a 24.2 per cent stake in Indian lender Yes Bank.
- Piramal Finance Ltd has entered into an agreement with Sanlam Emerging Markets (Mauritius) Ltd (SEMM), an entity of the Sanlam Group to sell its entire 14.72% equity stake in Shriram Life Insurance (SLI) for about ₹600 crore.
- Govt will also sell its stake in IDBI Bank to a foreign entity. Fairfax Financial may purchase the Government’s stake.
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