The government has planned to increase the investment cap of foreign banks in local private sector banks to 100 per cent from the existing 74 per cent. During the same month, Analjit Singh’s Max Life Insurance invested about Rs 150 crore to increase its existing holding. The bank currently has 523 branches across the country.DBS has been looking at expanding in India through various inorganic options. TrueNorth recently acquired a significant minority stake in Federal Bank’s housing finance NBFC, while Carlyle has bought out GE’s stake in SBI Cards.When contacted, LVB managing director Parthasarathi Mukherjee declined to comment. The bank had registered a net profit of Rs 52.16 crore in the January-March period of 2016-17.

Source: Economic Times May 28, 2018 04:18 UTC