HDFC Bank have received the Reserve Bank of India’s approval to acquire up to 9.5 percent in six banks- Axis Bank, Suryoday Small Finance Bank, ICICI Bank, Bandhan Bank, YES Bank and IndusInd Bank.

Economy Business

HDFC Bank have received the Reserve Bank of India’s approval to acquire up to 9.5 percent in six banks- Axis Bank, Suryoday Small Finance Bank, ICICI Bank, Bandhan Bank, YES Bank and IndusInd Bank. The ‘aggregate holding” includes shareholding by the bank and entities under the same management/ control, mutual funds, trustees and promoter group entities. The approvals were granted pursuant to applications made by HDFC Bank (as a promoter/sponsor of the Group) to the RBI on December 18, 2023.


      The RBI’s approval is valid for a period of one year from the date of RBI’s letter – which is till February 4, 2025.

     

     

 

     


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