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    Question

    Hinduja group firm IndusInd International Holdings Ltd

    (IIHL), the promoter of IndusInd Bank, is planning to raise ______ to increase its stake in the lender to 26 per cent from the current 15 per cent in the bank.
    A $1.1 billion Correct Answer Incorrect Answer
    B $1.3 billion Correct Answer Incorrect Answer
    C $1.5 billon Correct Answer Incorrect Answer
    D $1.7 billion Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Hinduja group firm IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, is planning to raise $1.5 billion (about Rs. 12,300 crore) to increase its stake in the lender to 26 per cent from the current 15 per cent in the bank.┬а┬а┬а┬а In November 2021, the RBI allowed promoters to hold up to 26 per cent stake in banks, up from the previous cap of 15 per cent.

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