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RBI lifts restriction on Fairfax-backed CSB Bank on opening new branches

The bank, in a regulatory filing on Tuesday said that the regulatory restrictions by RBI on opening new branches, through their letter in January 30, 2015, has been lifted with effect from January 10

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2 min read Last Updated : Jan 14 2020 | 5:38 PM IST

The Reserve Bank of India (RBI) has lifted a restriction it has imposed on Fairfax-backed CSB Bank, formerly The Catholic Syrian Bank Ltd, on opening new branches in view of the delayed Initial Public Offering (IPO).

The bank, in a regulatory filing on Tuesday said that the regulatory restrictions by RBI on opening new branches, through their letter in January 30, 2015, has been lifted with effect from January 10, 2020. The general permission to open new branches was withdrawn in 2015 in view of the delayed IPO of shares of the Bank, and it was not permitted to open any

Topics : CSB Bank

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