Key Points
IndusInd Bank has received the Reserve Bank of Indias (RBIs) nod to set up a mutual fund asset management business..
It will be a wholly-owned subsidiary, the bank said in its filing to the exchanges on Monday.. RBI has also allowed the private sector lender to infuse equity capital in the asset management subsidiary, the filing said..
The banking regulator on Monday informed IndusInd Bank about the development through a letter...
IndusInd Bank had reported a consolidated profit after tax (PAT) of Rs 2,171 crore for the quarter ended June 30, 2024, which was up by 2% over Rs 2,124 crore reported by the lender in the year-ago period..
Pre Provision Operating Profit (PPOP) stood at Rs 3,952 crore for the quarter ended June 2024, registering growth of 3% over the corresponding quarter of the previous year when it was Rs 3,831 crore..
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