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Can banks buy bank stocks....??? |
WAKY88
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Joined: 17 Dec 2009
Posts: 1
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Post: #1  Posted: Sun Mar 24, 2013 4:55 pm Post subject: Can banks buy bank stocks....??? |
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Hi frnds,
Can a bank buy or invest in shares of another bank in india...??
Can SBI buy ICICI or other bank shares...???
rgds,
Waky |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #2 Posted: Sun Mar 24, 2013 6:08 pm Post subject: |
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yes they can.
Their mutual funds division can
and also they can takeover, like icici tookover bank of rajashthan. Whether they do trading for investment purpose i dont know.
Is there any news? |
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pkholla
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Joined: 04 Nov 2010
Posts: 2890
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| Post: #3 Posted: Mon Mar 25, 2013 9:47 am Post subject: |
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When for example Reliance can buy its own shares and keep as Treasury stock, why not one bank buy of another? But do they want to is another Q!
I think the rule is one company or group cannot hold more than 10% of the equity of any bank, thats all. Even here there are exemptions like Government holds nationalized Bank shares, RBI holds SBI shares and SBI holds associate bank shares.
So there is nothing to stop ICICI holding some shares of UTI Bank |
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