Hinduja, who had applied earlier reserve Bank of India Seeking to increase its stake in the RBI, on Saturday welcomed the move of RBI to allow promoter’s stake in private sector lenders up to 26%. IIHL Mauritius, ns HindujaThe entity which is the promoter of IndusInd Bank had applied to the RBI to raise its stake to 26% from the previous cap of 15%, after allowing the rival’s promoters to keep their stake at 26% after pulling the RBI Equality was demanded. to the courts.

Ashok Hinduja, President, IIHL said, “We believe that this measure of increased promoter holding will be beneficial for all stakeholders: regulators, banking institutions and its customers, especially at a time when the Indian economy is poised for rapid growth. ” ,

The RBI on Friday came out with revised guidelines on private sector banks to allow 26% promoter ownership but allow corporates to promote banks after protests from various quarters including former governors. The recommendation was not carried forward.

Hinduja said IIHL is now awaiting operational guidelines as it gives an opportunity to the promoters to infuse capital to raise the stake up to 26%.

He said the increased promoter holding would enhance the financial strength of the bank and protect its customers.