RBI objects to Bain Capital’s Manappuram Finance deal over multiple lender control: Report

The RBI is opposing Bain Capital’s plan to acquire a controlling stake in Manappuram Finance due to their controlling interest in another Indian lender. Private equity firms with more than 20% in non-bank lenders have had to divest holdings due to RBI’s opposition. To address this, Bain is considering a phased divestment in Tyger Capital. […]