 "South Indian Bank net profit up 45.6%")
Private sector lender South Indian Bank (SIB) on Wednesday said the RBI has given an in-principle approval for setting up a wholly owned non-financial subsidiary.
"We wish to inform that the Reserve Bank of India vide letter dated August 4, 2020, received today, has accorded in-principle approval for setting up of a wholly owned non-financial subsidiary for undertaking activities permitted by RBI," it said in a regulatory filing.
Shares of SIB closed at Rs 6.95 apiece on the BSE, up 2.06 per cent from previous close.
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