Key Highlights
- Newsroom ReviewedIn a major development in the banking space, HDFC Bank Ltd.
- has confirmed it has received approval from the Reserve Bank of India to acquire up to 9.5% of the aggregate holding in Indusind Bank Ltd. HDFC Bank, which is the country's largest private sector lender, confirmed on Monday night through an exchange filing that it has received RBI approval that would allow the entity to hold up to 9.5% of paid-up capital or voting rights share.
- The same has been confirmed by IndusInd Bank as well, through an exchange filing.
- The said approval from the RBI is valid for a period of one year, or until Dec.
- 14, 2026. It is important to note that this approval is relevant for mutual fund, life insurance and general insurance.
