RBI clears ICICI Prudential to buy 9.95% stake in IDFC First Bank

Core Viewpoint - IDFC FIRST Bank has received approval from the Reserve Bank of India for ICICI Prudential Asset Management Company and its group entities to acquire up to 9.95% of the bank's paid-up share capital [1] Group 1 - The approval is a significant development for IDFC FIRST Bank [1] - The acquisition is subject to specific conditions and compliance with relevant regulations [1]