SBI Mutual Fund raises stake in private lender CSB Bank to over 5%

Private sector lender CSB Bank on Tuesday said SBI Mutual Fund has increased its stake in the bank to over 5 per cent.

According to a regulatory filing by CSB Bank, the stake of the fund house rose from 4.96 per cent to 5.01 per cent following the acquisition of an additional 86,993 shares.

The acquisition was through open market purchase on January 1, 2021.

Last year, the Reserve Bank of India (RBI) gave its nod to SBI Funds Management to acquire up to 10 per cent stake in the Kerala-based lender.

The RBI approval will stand valid for one year till July 21, 2021. The investment will be through various schemes of SBI Mutual Fund.