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BRIEF-RBI makes amendments to Master Direction on financial services provided by banks
September 25, 2017 / 1:21 PM / in 25 days

BRIEF-RBI makes amendments to Master Direction on financial services provided by banks

Sept 25 (Reuters) - Reserve Bank of India:

* Reserve Bank of India decided to make certain amendments to Master Direction dated May 26, 2016

* Says no bank shall hold more than 10 percent in equity of a deposit taking NBFC, provided this does not apply to a housing finance co

* No bank to invest more than 10 percent of unit capital of real estate investment trust/infrastructure investment trust subject to overall ceiling of 20 per cent of its net worth

* No bank to hold more than 20 per cent of the paid up share capital of an investee company engaged in non-financial services

* No bank to hold over 10 pct of paid up capital of co not being its unit engaged in non-financial services or 10 pct of bank’s paid up capital, reserves, whichever is lower

* No bank to make investment in category III alternative investment fund Source text: (bit.ly/2ft011r)

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