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Federal Bank gets RBI’s nod to sell 45% stake in Fedfina

Federal Bank has received an approval from the Reserve Bank of India (RBI) for proposal to sell up to 45% stake in NBFC arm Fedbank Financial Services (Fedfina) to private equity firm True North.

Earlier in May, the board of the Bank had approved 26% strategic investment by True North in Fedfina.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.

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