While RBI s approval is sentimentally positive for the six stocks in the near term, it does not mean that HDFC s stake will necessarily go up to 9.5 percent in those six banks
The most recent approval came on February 6 when HDFC group received the RBI nod to acquire up to 9.5 percent in six banks - IndusInd Bank, Yes Bank, Axis Bank, ICICI Bank, Suryoday Small Finance Bank and Bandhan Bank
The RBI has also mandated that the group acquire major shareholding within one year in all the banks from the date of the approval, without which it would stand cancelled.
HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank.