Money & Banking

South India Bank gets RBI nod for setting up non-financial subsidiary

Our Bureau Mumbai | Updated on August 05, 2020 Published on August 05, 2020

South Indian Bank (SIB) on Wednesday said the Reserve Bank of India (RBI) has accorded in-principle approval for setting up a wholly owned non-financial subsidiary.

“We wish to inform you that Reserve Bank of India vide letter…dated 04-08-2020, received today, has accorded In-Principle approval for setting up of a Wholly Owned Non-Financial Subsidiary for undertaking activities permitted by RBI,” the Kerala-based Bank said in a regulatory filing.

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Published on August 05, 2020
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