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- HDFC Bank Investments Kotak Mahindra Bank, AU Small Finance Bank. Capital Small Finance Bank
New Delhi4 minutes ago
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The Reserve Bank of India (RBI) has approved India’s largest private bank HDFC to invest in Kotak Mahindra Bank Limited, AU Small Finance Bank and Capital Small Finance Bank. In a stock exchange filing, HDFC Bank said that group companies like HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and promoters and sponsors have been given a total of 9.5% stake in the bank. Approval has been received.
RBI has given this approval to HDFC Bank on 3rd January, which is valid till 2nd January 2026 next year. If the acquisition is not finalized within this time frame, this approval will lapse. However, under this approval, HDFC Bank is required to ensure that the joint ownership of its group companies in these entities does not exceed 9.5% at any time.
HDFC Bank declined by 2.53% yesterday
HDFC Bank shares fell 2.53% yesterday, closing at ₹1,748.40. The stock has given a negative return of 6.01% in the last 1 month. At the same time, so far this year its shares have seen a decline of 1.30%. Whereas, in the last 6 months HDFC Bank has given positive returns of only 1.23%.
HDFC Bank has more than 9,092 branches in the country.
HDFC Bank provides banking and financial services. The founder of the bank is Hasmukhbhai Parekh. He established this bank in 1994. Its head quarter is in Mumbai. The managing director and chief executive officer (CEO) of the bank is Shashidhar Jagadishan. HDFC Bank has more than 9,092 branches and 20,993 ATMs in the country.