HDFC Bank Receives RBI Approval for Group Entities to Hold Up to 9.95% Aggregate Stake in ICICI Bank and Kotak Mahindra Bank
Published on: May 7, 2026, 1:12 a.m. | Source: scanx.trade
The RBI approved HDFC Bank's group entities, including HDFC Mutual Fund, HDFC Life Insurance, HDFC ERGO, HDFC Pension Fund Management, and HDFC Securities, to hold an aggregate stake of up to 9.95% in ICICI Bank and Kotak Mahindra Bank. The approval, dated May 6, 2026, remains valid for one year until May 5, 2027. The application was filed on January 23, 2026, after the group's aggregate holding was found likely to breach the 5% threshold prescribed under the RBI Directions, 2025. HDFC Bank itself does not intend to invest in either bank, and the group investments are described as being in the normal course of business.
