RBI approves HDFC Bank group's increased stake in IndusInd Bank

HDFC Bank announced on December 15, 2025, that it has received approval from the Reserve Bank of India (RBI) to acquire an "aggregate holding" of up to 9.50% of the paid-up share capital or voting rights in IndusInd Bank. This approval, valid for one year until December 14, 2026, allows HDFC Bank's group entities—including HDFC Mutual Fund and HDFC Life Insurance—to maintain this stake.

While HDFC Bank itself does not intend to invest directly, the application was made on behalf of its group entities, as their combined holding was anticipated to exceed the 5% limit set by RBI Directions. The bank confirms these investments are part of the normal business operations of its respective group entities.