InvestmentMay 7, 2026, 06:13 AM
HDFC Bank gets RBI nod for 9.95% aggregate holding in ICICI, Kotak
AI Summary
HDFC Bank Limited received approval from the Reserve Bank of India (RBI) to hold an "aggregate holding" of up to 9.95% of the paid-up share capital or voting rights in ICICI Bank Limited and Kotak Mahindra Bank Limited. This approval, valid until May 5, 2027, was sought by HDFC Bank on behalf of its group entities, whose combined holdings were expected to exceed the 5% limit under RBI Directions, 2025. The Bank clarified that it does not intend to invest directly, and these investments by its group entities are part of their normal business operations.
Key Highlights
- RBI approved HDFC Bank's aggregate holding up to 9.95% in ICICI Bank and Kotak Mahindra Bank.
- Approval is for HDFC Bank as promoter/sponsor of its group entities.
- The approval is valid for one year, until May 5, 2027.
- Aggregate holding includes shareholding by the Bank, group entities, mutual funds, and trustees.
- HDFC Bank itself does not intend to invest in ICICI or Kotak.
- Approval was sought as group entities' aggregate holding was likely to exceed the 5% limit.
- Investments by HDFC Bank group entities are in their normal course of business.
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