HDFC Bank Receives RBI Approval for 9.95% ICICI, Kotak Holdings

RBI approves HDFC Bank group entities to acquire up to 9.95% stake in ICICI Bank and Kotak Mahindra Bank.
Approval valid for one year until May 5, 2027, with aggregate holding cap maintained at all times.
Application was made due to group entities' holdings likely exceeding standard 5% limit under RBI Directions.
Investments by HDFC group entities are in normal course of their respective business operations.