Regulatory6 May 2026, 10:21 pm
HDFC Bank Gets RBI Nod for Investment in ICICI & Kotak
AI Summary
HDFC Bank has received approval from the Reserve Bank of India (RBI) to acquire up to 9.95% of the paid-up share capital or voting rights in ICICI Bank and Kotak Mahindra Bank. The approval, granted via letters dated May 6, 2026, is valid until May 5, 2027. While HDFC Bank itself does not intend to invest, the application was made on behalf of its group entities, as their aggregate holding is likely to exceed the 5% limit. The investments by HDFC Bank group entities are in the normal course of their respective businesses.
Key Highlights
- RBI approves HDFC Bank's investment in ICICI Bank and Kotak Mahindra Bank.
- HDFC Bank can acquire up to 9.95% stake in each bank.
- Approval is valid for one year, expiring on May 5, 2027.
- Application made on behalf of HDFC group entities due to aggregate holding limits.
- Investments are part of the normal business operations of HDFC group entities.