Hinduja-led promoter entity looking to expand ownership in Mumbai-based bank

MUMBAI (CU)_Last week, the Reserve Bank of India (RBI) announced that it will allow promoter entities to own up to 26 per cent in a bank. In order to provide a level playing field, the central bank also decided to permit promoters of existing banks who had reduced their ownership on account of previous regulations to bring it back up to a maximum of 26 per cent. Accordingly, the owner of one of the biggest private sector lenders in South Asian nation is now preparing…