The bank has received an intimation from the RBI on November 16, 2022, that it has granted approval to DSP Investment Managers Private to acquire up to 9.99% of the paid-up equity capital of the bank through the schemes of DSP Mutual Fund
The merger is being effected to comply with the RBI norms on small finance banks, mandating the promoter to reduce the stake in the subsidiary to 40 per cent within five years of commencement of operations by the SFB (Small Finance Bank), , reserve bank of india, Equitas SFB, Equitas Holdings