Aga Khan Fund For Economic Development

President Pranab Mukherjee and Prime Minister Narendra Modi today praised Prince Karim Aga Khan for the work done by his foundation towards sanitation, heritage conservation and rural development.

DCB Bank on Thursday said it has sought extension of deadline from the Reserve Bank of India (RBI) to dilute promoter stake to 10 per cent, citing poor market conditions.

The regulator had set a March 2014 deadline for the DCB promoters, Aga Khan Fund (Aga Khan Fund for Economic Development or Akfed), which holds 18 per cent in the city-based bank, and another Fund related entity Platinum Jubilee Investments holding another 1 per cent.

Private sector lender DCB Bank has said it is confident of getting down its promoter holding to the Reserve Bank of India- mandated levels by March next and will not seek an extension this time.

President Pranab Mukherjee and Prime Minister Narendra Modi today praised Prince Karim Aga Khan for the work done by his foundation towards sanitation, heritage conservation and rural development.

DCB Bank on Thursday said it has sought extension of deadline from the Reserve Bank of India (RBI) to dilute promoter stake to 10 per cent, citing poor market conditions.

The regulator had set a March 2014 deadline for the DCB promoters, Aga Khan Fund (Aga Khan Fund for Economic Development or Akfed), which holds 18 per cent in the city-based bank, and another Fund related entity Platinum Jubilee Investments holding another 1 per cent.

Private sector lender DCB Bank has said it is confident of getting down its promoter holding to the Reserve Bank of India- mandated levels by March next and will not seek an extension this time.