RBI approves HDFC Bank's acquisition of up to 9.50% stake in AU Small Finance Bank

AU Small Finance Bank (AU SFB) has received a copy of letter of the Reserve Bank of India (RBI) dated January 3, 2025 addressed to HDFC Bank that it has accorded its approval to the HDFC Bank (which includes its group entities viz HDFC Mutual Fund, HDFC Life Insurance Co., HDFC Pension Management Co., HDFC ERGO General Insurance Co. and HDFC Securities) to acquire 'aggregate holding' of up to 9.50% of the paidup share capital or voting rights in the AU SFB within one year from the date of RBI approval letter, failing which RBI approval shall stand cancelled.