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Last Updated : Nov 28, 2016 02:30 PM IST | Source: Moneycontrol.com

Prem Watsa meets RBI guv to buy out Catholic Syrian Bank: Srcs

Three people aware of this development told Mint that the Prem Watsa met RBI governor Urjit Patel and deputy governor SS Mundra and RS Gandhi on Friday.


Moneycontrol Bureau

The Reserve Bank of India has given an informal nod to Prem Watsa's Fairfax India Holdings Corp. to buy majority stake in Catholic Syrian Bank, reports Mint.


Three people aware of this development told Mint that Watsa met RBI governor Urjit Patel and deputy governor SS Mundra and RS Gandhi on Friday.


Sources said that the board of Catholic Syrian Bank will consider the Fairfax proposal when it meets on Tuesday and Wednesday. The central board of RBI is yet to approve of this deal.

S Santhanakrishnan, chairman of Catholic Syrian Bank, declined to comment, while an RBI spokesperson did not to respond to emails seeking comment. Harsha Raghavan, MD and chief executive of Fairbridge Capital, a Fairfax unit said, "We do not comment on any market rumours or speculation ."

First Published on Nov 28, 2016 08:46 am
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