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HDFC Bank Group gets RBI’s nod to acquire up to 9.50% stakes in 6 banks

HDFC Bank Ltd. | Bank - Private | BFSI | BSE: 500180 | NSE: HDFCBANK

06 Feb 2024 Evaluate

The Reserve Bank of India (RBI) has given its approval to HDFC Bank (which includes its group entities viz HDFC Mutual Fund, HDFC Life Insurance Company, HDFC ERGO General Insurance Company and others) to acquire aggregate holding of up to 9.50% of the share capital or voting rights in the 6 Banks: Axis Bank, Suryoday Small Finance Bank, ICICI Bank, Bandhan Bank, Yes Bank and IndusInd Bank.

The approvals were granted pursuant to applications made by HDFC Bank (as a promoter/ sponsor of the Group) to RBI on December 18, 2023. RBI’s approval is valid for a period of one year from the date of RBI’s letter, i.e., till February 4, 2025. Further HDFC Bank shall ensure that the aggregate holding in the above?mentioned banks does not exceed 9.50% of the paid?up share capital or voting rights of the respective banks, at all times.

As per the Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023 (RBI Directions), aggregate holding includes shareholding by the Bank, entities under the same management/ control, mutual funds, trustees, promoter group entities, etc.

In view of the same, whilst HDFC Bank does not intend to invest in these banks, since the aggregate holding of HDFC Bank group, was likely to exceed the prescribed limit of 5%, an application seeking approval of RBI for increase in investment limits was made. Further, since the RBI Directions is applicable to HDFC Bank, the Bank had made the application to RBI on behalf of the Group. The above investments by HDFC Bank Group are in the normal course of business of the respective group entities.

HDFC Bank is one of India’s premier banks providing a wide range of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.

HDFC Bank Share Price

799.90 4.40 (0.55%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
HDFC Bank	799.90
ICICI Bank	1347.50
Axis Bank	1359.15
Kotak Mahindra Bank	383.50
Indusind Bank	853.15
View more..

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HDFC Bank Group gets RBI’s nod to acquire up to 9.50% stakes in 6 banks

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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