Deals
Billionaire Brothers Seek Bigger IndusInd Stake Under New Rules
- New banking rules approved Friday pave way for more control
- Ashok Hinduja says he’s waiting to see details from regulator
People wait outside a branch of IndusInd Bank Ltd., in Mumbai, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
The billionaire Hindujas brothers are looking to increase their stake in IndusInd Bank Ltd., the lender they founded, now that the Reserve Bank of India has eased ownership rules for the country’s private sector banks.
Ashok Hinduja, who chairs founding firm IIHL, said in a statement Saturday he’s waiting to act until details of the new rules are spelled out by the RBI, which is also the nation’s banking regulator.