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Business Editorial

RBI Grants HDFC Bank Group Approval to Acquire Up to 9.5% Stakes in Yes Bank, IndusInd Bank, Axis Bank and Three Other Banks

bigbreakingwire

2/6/2024 1 min read

The Reserve Bank of India has given approval to HDFC Bank Group to acquire stakes up to 9.50 percent in IndusInd Bank, Yes Bank, Axis Bank, ICICI Bank, Suryoday Small Finance Bank, and Bandhan Bank.

HDFC Bank clarified in an exchange filing that the approval covers investments by HDFC Asset Management Company, HDFC Ergo, and HDFC Life Insurance.

This approval has a one-year validity, and if HDFC Bank does not complete the acquisition within this period, the approval will be canceled.

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Indian Railways Freight Loading Jumps 9% to 141.3 Million Tonnes in July 2026

Indian Railways Freight Loading Jumps 9% to 141.3 Million Tonnes in July 2026

India Manufacturing PMI Falls to 53.5, Near Five-Year Low in July

India Manufacturing PMI Falls to 53.5, Near Five-Year Low in July

RBI Weekly Statistical Supplement: 5 Key Numbers From RBI Data

RBI Weekly Statistical Supplement: 5 Key Numbers From RBI Data

Samudra Manthan Gets Cabinet Approval for Rs 84,084 Crore Offshore Push

Samudra Manthan Gets Cabinet Approval for Rs 84,084 Crore Offshore Push

Closing Auction Session: 8 Major Changes as NSE Extends F&O Trading Hours

Closing Auction Session: 8 Major Changes as NSE Extends F&O Trading Hours

Fed Rate Decision: 9-3 Vote Marks Biggest FOMC Split Since 2016 as Rates Stay at 3.50%-3.75%

Fed Rate Decision: 9-3 Vote Marks Biggest FOMC Split Since 2016 as Rates Stay at 3.50%-3.75%