CCI Approves Blackstone's 9.99% Stake in Federal Bank

The Competition Commission of India (CCI) has approved a big investment.

Blackstone, a huge global investment company, will buy a 9.99% share in Federal Bank.

This deal will bring a lot of money (Rs 6,196.5 crore) to the bank.

The bank's board already agreed to this plan in October.

With this money, Federal Bank wants to grow bigger and become one of India's top five private banks.

Blackstone might also get to choose someone to be on the bank's board.

On the day of the announcement, the bank's stock price went down a little.