Which Mutual Funds hold stakes in RBL Bank? Here is a list of top few including Kotak MF, ICICI Pru Life, LIC MF

Over 80 mutual funds schemes have held stakes in the small-cap private lender RBL Bank as of November 30, 2021. As per trendline.com, some of the prominent once include Kotak MF, ICICI Pru Life, Nippon India AMC, LIC MF, Tata Arbitrage, Aditya Birla Sun Life AMC. 

LIC MF Arbitrage Regular Plan Growth owns maximum stake in the bank with over 4.5 per cent followed by Axis Value Fund Regular Growth at around 3.5 per cent and UTI Banking and Financial Services Fund Growth at over 3.05 per cent shareholding in the private lender. 

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While ITI Mid Cap Fund Regular Growth, Nippon India Banking & Financial Services Fund Growth and Taurus Discovery (Midcap) Fund - Growth Option holding between 2-3 per cent stake in RBL Bank as of November 30, 2021. 

As many as 20 MF schemes have between 1-2 per cent stake in the bank and 32 MF schemes held between 0.5-1 per cent stake in the private lender, as of November-end, as per the data. 

Note: Above image as top 30 schemes

On Monday, the shares of RBL Bank tumbled over 18 per cent to 140.9 per share on the BSE, as compared to 0.52 per cent rise in the BSE Sensex. The stock intraday had hit a new 52-week low to Rs 132.35 a share after plummeting over 23 per cent on the BSE on Monday. 

The decline in the scrip is mainly on the multiple triggers. As on Saturday the Board accepted the request of Vishwavir Ahuja to go on leave with immediate effect, and appointed Rajeev Ahuja as interim Managing Director & Chief Executive Officer of the Bank with immediate effect.  

Besides, the Reserve Bank of India on Friday had appointed Yogesh K Dayal, who is a Chief General Manager of RBI as an Additional Director of the bank for two years.