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HDFC Bank secures RBI approval to increase group stakes in three banks

share-iconSaturday, January 04 comment-icon2 weeks ago 10 views
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indiatimesINDIATIMES
HDFC Bank secures RBI approval to increase group stakes in three banks

Credited from: INDIATIMES

  • HDFC Bank has received approval from the RBI for group entities to increase their investments in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank up to 9.5%.
  • The approval was granted as part of HDFC Bank's role as a promoter, including entities like HDFC Mutual Fund and HDFC Life Insurance.
  • HDFC clarified it does not plan to invest directly but the aggregate holding of its group entities might exceed the 5% limit.
  • This investment proposal was filed to RBI on September 20, 2024, during its regular course of business.
  • The approval, valid until January 2, 2026, mandates that the aggregate holding must not exceed 9.5% of the paid-up share capital.

For more details, visit the original article here.

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Hdfc bank Rbi approval Banking investments Stake increase Kotak mahindra bank Au small finance bank Capital small finance bank
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