Abu Dhabi-based businessman Yousuffali MA, owner of the Lulu supermarket chain, is looking to acquire a minority stake in India's Catholic Syrian Bank (CSB), it was reported.
The managing director of EMKE Group has requested permission from Indian authorities to purchase a 4.99 percent in the Kerala-based lender from Sura Chanrichawla, the Economic Times said.
“I’m not a banker and I have no intention to control the bank… but if RBI (Reserve Bank of India) allows it, I will consider buying another 3 percent,” Yousuffali said.
Read more: http://www.arabianbusiness.com/emke-s-yousuffali-eyes-india-bank-stake-report-489219.html
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