HDFC Bank has received approval from India’s central bank, the Reserve Bank of India (RBI), for its subsidiaries to acquire up to a 9.5% stake in IndusInd Bank. The approval has been given to HDFC units, HDFC Mutual Fund, HDFC Life Insurance, HDFC ERGO General Insurance, HDFC Pension Fund Management, and HDFC Securities. These units are allowed to jointly purchase up to 9.5% of IndusInd Bank’s paid-up share capital or voting rights, within one year, until 14 December 2026. According to a report from Ko ...