Reserve Bank of India (RBI) logo in the | Photo credit: FRANCIS MASCARENHAS
Post facto approval means that permission is given after action has already been taken.
“The previously imposed restriction on the voting power of 1729 Capital and its partners in SSFB to less than 5 percent has been lifted,” 1729 Advisors LLP said in a filing with the regulator.
Further, the approval is subject to compliance with the relevant provisions of the Banking Regulation Act, 1949, Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies, FEMA, 1999, and SEBI Regulations.
At the end of September 2025, the Promoter and Promoter Group held a 22.44 percent stake in the Bank. Major shareholders in this category included Baskar Babu R, MD & CEO (5.18 percent), Sunaina Pai Ocalan and Sheela Pai Cole (4.18 percent each), PS Jagdish (3.32 percent) and P Surendra Pai (2.28 percent).
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Published on November 25, 2025
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