RBI Grants Approval to HDFC Bank to Acquire up to 9.50% Stake in IndusInd Bank

The Reserve Bank of India (RBI) has granted its approval to HDFC Bank Limited to acquire an 'aggregate holding' of up to 9.50% of the paid-up share capital or voting rights in IndusInd Bank Limited. This approval is subject to compliance with various regulations and statutes, including the Banking Regulation Act, 1949, Reserve Bank of India (Commercial Banks — Acquisition and Holding of Shares or Voting Rights) Directions, 2025, and the Foreign Exchange Management Act, 1999. HDFC Bank is required to ensure that its holding does not exceed 9.50% at any time, and if it falls below 5%, prior approval of the RBI will be required to increase it to 5% or more. The RBI has also stipulated that HDFC Bank shall not have representation on the IndusInd Bank’s Board. This disclosure is hosted on IndusInd Bank's website.