“We would like to inform you that the RBI, through its letter dated December 15, 2025, has approved the Bank (as promoter/sponsor of its group entities namely HDFC Mutual Fund, HDFC Life Insurance Company Limited, HDFC ERGO General Insurance Company Limited, HDFC Pension Fund Management Limited and HDFC Securities Limited) to acquire “aggregate interest” of up to 9.50 percent of the paid-up share capital or voting rights in IndusInd,” the lender said.
It added that the approval is valid for a period of one year from the date of the RBI’s letter, i.e. till December 14, 2026. Further, the lender must ensure that the “aggregate interest” in IndusInd does not exceed 9.50 percent of the paid-up share capital or voting rights of IndusInd at any time.
As per RBI norms, ‘joint ownership’ includes shareholdings of the bank, corporate entities under the same management/control, mutual funds, trustees and promoter group entities. In view of this, even though HDFC Bank does not plan to invest in IndusInd as the “total holding” of the Bank Group entities is likely to exceed the prescribed limit of 5 per cent, an application has been filed seeking approval from RBI for an increase in investment limits.
“Further, as the RBI directions are applicable to the Bank, the Bank has submitted the application to RBI on behalf of the group entities on October 24, 2025. Please also note that the above investments by the group entities of HDFC Bank are within the normal course of business of the respective group entities,” the bank said.
Published on December 16, 2025
#HDFC #Bank #group #RBI #approval #stake #IndusInd #Bank