HDFC Bank and its affiliated companies have obtained approval from the Reserve Bank of India (RBI) to acquire stakes in six prominent banks. This approval, received on January 5, 2024, grants HDFC Bank and its group entities the authority to acquire an aggregate stake of up to 9.5% in ICICI Bank, Axis Bank, IndusInd Bank, YES Bank, Bandhan Bank, and Suryoday Small Finance Bank (SFB). The approval, valid until February 4, 2025, follows applications submitted by the bank as a promoter or sponsor of the group on December 18, 2023.
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