The Reserve Bank of India (RBI) has approved International Finance Corporation (IFC) to acquire 9.7 percent stake in Federal Bank.
Federal Bank Limited is a leading private sector Indian commercial bank.
Its office is in Aluva, Kochi, Kerala.
According to the data of March 31, 2016, Federal Bank has 1252 branches and 1516 ATMs in 24 states in the country. Its CEO is Shyam Srinivasan.
Reserve Bank of India is the central bank of India. It is the operator of all the banks of India. The Reserve Bank controls the economy of India.
It was established on 1 April 1935 as per the Reserve Bank of India Act 1934.
Indian economist Babasaheb Ambedkar has played an important role in the establishment of the Reserve Bank of India, the Reserve Bank of India was created on the basis of the guidelines or directive principles provided by him.
