RBI Approves SBI Mutual Fund's 9.99% Stake Acquisition in Bandhan Bank

Reserve Bank of India (RBI) has granted approval to SBI Mutual Fund to acquire an 'aggregate holding' of up to 9.99% of the paid-up share capital or voting rights in Bandhan Bank. The approval is subject to compliance with various statutes, regulations, and guidelines, including the Banking Regulation Act, 1949, and the Reserve Bank of India (Commercial Banks - Acquisition and Holding of Shares or Voting Rights) Directions, 2025. The RBI has also stated that if the applicant fails to acquire the major shareholding within a year, the approval will be cancelled. Furthermore, the applicant has been advised to ensure that their 'aggregate holding' does not exceed 9.99% at any time.