India's largest lender HDFC Bank on Friday night said the Reserve Bank of India has given its approval to acquire “aggregate holding” of up to 9.50 per cent in 3 banks. The 3 lenders were Kotak Mahindra Bank,

RBI approves HDFC Bank group to acquire up to 9.50% stake in Kotak Mahindra, AU Small Finance, and Capital Small Finance Banks.

The Reserve Bank of India approved HDFC Bank’s application for group entities to acquire not more than 9.5 per cent aggregate stake in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Fin

Indian private lending giant, HDFC Bank, has been given permission by the Reserve Bank of India (RBI) to purchase up to 9.5 per cent of AU Small Finance Bank within a year of the approval date. The approval will expire if the acquisition is not completed within this period.

AU Small Finance Bank has received approval from the RBI for HDFC Bank and its group entities to acquire up to 9.5% of its stake. The acquisition, subject to regulatory compliance, must be completed within one year,

Besides, AU Small Finance Bank, HDFC Bank will also acquire up to 9.5% aggregate holding in Kotak Mahindra Bank and Capital Small Finance Bank.