ICICI Prudential Asset Management Company (AMC) has secured approval from the Reserve Bank of India to purchase an aggregate holding of as much as 9.95% of the paid-up equity capital or voting rights in four lenders.
The aforesaid lenders are CSB Bank, DCB Bank, AU Small Finance Bank and Kotak Mahindra Bank, an ICICI Bank exchange filing showed.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Under the terms of the clearance, the applicant must complete the acquisition of major shareholding within one year from the dates of the RBI letters.
If this does not happen, the approvals will lapse.
“The approvals are pursuant to the applications made in accordance with Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025 dated November 28, 2025 (Master Direction). Accordingly, the term “aggregate holding” shall be construed as per the said Master Direction,” the filing read.
Earlier, in February, ICICI Bank obtained RBI authorisation to lift its combined holding to as much as 9.95% in eight Indian banks.
That transaction was to be carried out through ICICI Prudential Asset Management along with other group entities.
The earlier approval applied to Bandhan Bank, City Union Bank, Equitas Small Finance Bank, Federal Bank, IDFC First Bank, HDFC Bank, Karur Vysya Bank and RBL Bank.
In August last year, ICICI Bank was fined Rs7.5m (then $85,479) by the RBI for lapses related to property valuation rules and norms for opening current accounts.
