The Reserve Bank of India (RBI) has granted approval to HDFC Bank group to acquire a 9.5% stake in six banks, including IndusInd Bank, Axis Bank, Suryoday Small Finance Bank, ICICI Bank, Bandhan Bank, and Yes Bank. The HDFC Bank group comprises entities such as HDFC Mutual Fund, HDFC Life Insurance Company, and HDFC Ergo General Insurance Company. This approval follows HDFC Bank's application submitted on December 18, 2023.
