NATIONAL UPDATES:
1. RBI Approves Blackstone’s ₹6,196 Crore Investment to Acquire 9.99% Stake in Federal Bank: RBI approves Blackstone’s investment in Federal Bank, allowing the private equity firm to acquire up to 9.99% stake through a preferential issue via private placement.Blackstone will invest ₹6,196.51 crore via Asia II Topco XIII Pte Ltd, making it the largest shareholder in Federal Bank, which has no promoter and all publicly held shares.The move reflects growing foreign investment interest in India’s banking sector, following large investments by Emirates NBD in RBL Bank, SMBC in Yes Bank, and Warburg Pincus & ADIA in IDFC First Bank, and aligns with potential reforms allowing up to 49% foreign ownership in public sector banks.
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