Equitas Holdings NSE -0.96 % on Monday said RBI has lifted the restrictions imposed
on its small finance bank subsidiary in September last year. The Reserve Bank lifted the restrictions on Equitas Small Finance Bank (ESFB) subsequent to the listing of its equity shares, Equitas
Holdings said in a BSE filing.
"Subsequent to the listing of equity shares
of...ESFB, RBI vide its letter dated November 9, 2020 has acceded to request of
the bank for lifting the regulatory restrictions," it said.
RBI had restricted ESFB from opening new
branches and froze the remuneration of MD&CEO at the then existing level.
"In this connection, we accede to your
request for lifting the regulatory restrictions imposed on Equitas Small
Finance Bank vide our letter dated September 6, 2019," the RBI letter
attached with the filing said.
The shares of ESFB were listed on stock
exchanges NSE and BSE with effect from November 2, 2020.
The listing of the banking subsidiary has been
in compliance with requirements of guidelines of licensing of small finance
bank by RBI, Equitas Holdings said in a filing last week.
As per the guidelines, SFBs with net worth of Rs 500 crore have to mandatorily list their shares within three years of starting operations.
However, those below Rs 500 crore net worth can list their shares voluntarily.
ESFB started its operations in September 2016.
Equitas Holdings stock was trading at Rs 45.05 on BSE, up 0.78 per cent. ESFB
was down 0.91 per cent at Rs 32.60.
Sandip Ginodia , CEO
ALTIUS INVESTECH PVT LTD
We deal in over 60 unlisted companies with 15 years of experience
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .
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