India Said to Reject SBI Plan to Raise Stake in Investec Unit

The Reserve Bank of India turned down a proposal by the country’s largest bank to increase its stake in an institutional equities joint venture with a local unit of Investec...

By Baiju Kalesh, Siddhi Nayak · Bloomberg Markets

The Reserve Bank of India turned down a proposal by the country’s largest bank to increase its stake in an institutional equities joint venture with a local unit of Investec Plc, according to people familiar with the matter.